Fathom Holdings' Subsidiary, Verus Title, Expands Footprint in Utah, Colorado, and Virginia through the Addition of LW Traveling Title

Rhea-AI Summary

Fathom Holdings' subsidiary, Verus Title, has acquired Utah-based title insurance agency LW Traveling Title, marking an expansion into Utah, Colorado, and Virginia. The acquisition involves nine team members and aims to leverage Verus' technology and service prowess to enhance real estate services in these regions. The strategic move emphasizes Fathom's commitment to providing comprehensive real estate solutions. The integration is expected to facilitate growth and improved service delivery, with REMA assisting in the transaction.

Positive

• Expansion into Utah, Colorado, and Virginia markets.
• Acquisition of an established title insurance agency with nine team members.
• Enhanced service capability through technology integration.
• Increased geographic footprint aligning with business strategy.
• Potential for growth and improved client service delivery.

Negative

• None.

CARY, N.C., June 20, 2024 /PRNewswire/ -- Verus Title, a wholly owned subsidiary of Fathom Holdings Inc. (Nasdaq: FTHM), a national, technology-driven, end-to-end real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings for brokerages and agents, today announced that Salt Lake City, Utah-based LW Traveling Title (Traveling Title) is now part of Verus Title.

Traveling Title is an established title insurance agency with nine team members serving Utah, Colorado, and Virginia.

"We are delighted to share that Traveling Title is now a part of our Verus team," said Marco Fregenal, CEO of Fathom Holdings. "Utah, with its thriving real estate market, is a strategic addition to our geographic footprint. With the addition of Traveling Title, Verus Title is poised to leverage its technology tools and exceptional service commitment to deliver unparalleled service in Utah, Colorado, and Virginia. This expansion underscores Fathom's commitment to providing comprehensive and innovative real estate solutions. We are excited about the opportunities and growth this collaboration will bring, enhancing our ability to serve clients with excellence and convenience."

Paul Yurashevich, President of Verus Title, added, "Verus Title and Fathom are excited to welcome the Traveling Title team. Traveling Title is well known in Utah for going above and beyond for its clients with convenient closings and strong knowledge of title. That matches Verus' commitment to service well; adding to all the technology tools that Verus brings to the table, we have a winning formula for best-in-class title products in the state. We are excited to grow together in the state, and this addition to our team will help us offer broader and better coverage in Utah." 

Real Estate Mergers & Acquisitions Co. (REMA) facilitated the transaction for both parties.

About Fathom Holdings Inc.
Fathom Holdings Inc. is a national, technology-driven, real estate services platform integrating residential brokerage, mortgage, title, and SaaS offerings to brokerages and agents by leveraging its proprietary cloud-based software, intelliAgent. The Company's brands include Fathom Realty, Encompass Lending, intelliAgent, LiveBy, Real Results, and Verus Title. For more information, visit www.FathomInc.com.

Cautionary Note Concerning Forward-Looking Statements
This press release contains "forward-looking statements," including, but not limited to, the opportunities and growth the acquisition of Traveling Title brings to Fathom. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including: risks related to acquisitions and the integration of acquisition; risks related to general economic conditions, including interest rates; risks in effectively managing rapid growth in our business; reliance on key personnel; competitive risks; and the other risk factors set forth from time to time in our SEC filings, copies of which 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 Contact:
Matt Glover
Gateway Group, Inc.
949-574-3860
FTHM@gateway-grp.com 

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SOURCE Fathom Holdings Inc.

FAQ

What recent acquisition did Fathom Holdings' subsidiary Verus Title make?

Verus Title acquired Utah-based LW Traveling Title, expanding its operations into Utah, Colorado, and Virginia.

How many team members joined Verus Title from LW Traveling Title?

Nine team members from LW Traveling Title joined Verus Title.

Which markets is Verus Title expanding into with the acquisition of LW Traveling Title?

Verus Title is expanding into Utah, Colorado, and Virginia markets.

What is the significance of Verus Title's acquisition of LW Traveling Title?

The acquisition aims to leverage Verus' technology and service expertise to enhance real estate services and expand Fathom Holdings' geographic footprint.

Who facilitated the acquisition between Verus Title and LW Traveling Title?

Real Estate Mergers & Acquisitions Co. (REMA) facilitated the transaction.