Fathom Holdings Completes Acquisition of Verus Title

Rhea-AI Summary

Fathom Holdings Inc. (Nasdaq: FTHM) has completed its acquisition of Verus Title Inc., enhancing its residential real estate services by adding title insurance services. This strategic move aims to offer agents a competitive edge and aligns with Fathom's growth trajectory. Fathom Realty operates a national, cloud-based brokerage model providing agents with 100% commission and minimal transaction fees through its proprietary software, IntelliAgent.

Positive

• Acquisition of Verus Title enhances service offerings.
• Strategic move positioned to provide a competitive advantage for agents.
• Continues Fathom's growth trajectory in the real estate market.

Negative

• Potential risks associated with acquisition integration.
• Dependence on key personnel for managing rapid growth.

CARY, N.C., Nov. 30, 2020 /PRNewswire/ -- Fathom Holdings Inc. (Nasdaq: FTHM), a holding company that primarily operates through its wholly owned subsidiary, Fathom Realty, LLC, a national, cloud-based, technology-driven, residential real estate brokerage, today announced it has completed the previously announced acquisition of Verus Title Inc., expanding its residential real estate offerings to include title insurance services.

"We are pleased to have completed this transaction so quickly.  Adding Verus complements our suite of services in the residential real estate market, gives our agents another distinct competitive advantage and further positions Fathom to continue on our growth trajectory," said Joshua Harley, Fathom's Founder and CEO.

About Fathom Holdings Inc.

Fathom Holdings Inc. is the parent company of Fathom Realty Holdings, LLC, a national, virtual, full-service real estate brokerage that leverages proprietary cloud-based software called IntelliAgent to operate a Platform as a Service model (PaaS) for the residential real estate industry.  Fathom offers real estate professionals 100% commission, small flat-fee transaction costs, support, technology, and training, all powered by best in class operational efficiencies.  For more information visit www.fathomrealty.com.

Cautionary Note Concerning Forward-Looking Statements

This press release contains "forward-looking statements," including, but not limited to, continuing Fathom's growth trajectory.  Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including: risks associated with making and integrating acquisitions; risks in effectively managing rapid growth in our business; reliance on key personnel; technology risks; competitive risks; and the others set forth in the Risk Factors section of the Company's registration statement for its initial public offering filed with the SEC.  Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Investor Relations and Media Contacts:

Roger Pondel/Laurie Berman
PondelWilkinson Inc.
investorrelations@fathomrealty.com 
(310) 279-5980

Marco Fregenal
President and CFO
Fathom Holdings Inc.
investorrelations@fathomrealty.com
(888) 455-6040 

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SOURCE Fathom Realty

FAQ

What was the purpose of Fathom Holdings' acquisition of Verus Title?

The acquisition aims to expand Fathom's residential real estate offerings by adding title insurance services.

When did Fathom Holdings announce the acquisition of Verus Title?

Fathom Holdings announced the acquisition on November 30, 2020.

What is the expected impact of the acquisition on Fathom Holdings' business?

The acquisition is expected to provide Fathom agents with a competitive advantage and support the company's growth trajectory.

What are the risks associated with Fathom Holdings' acquisition of Verus Title?

Risks include integration challenges and reliance on key personnel to manage rapid business growth.