National real estate services provider Chronos Solutions, headquartered in Coppell, Texas, has announced the acquisition of settlement services firm Commerce Title and Closing Services from parent company Ten-X, formerly Auction.com.
According to Chronos, the acquisition of Commerce Title and Closing Services will greatly broaden the firm’s title and settlement services offerings. In particular, the acquisition strengthens Chronos’ presence in California, one of the country’s most dynamic title insurance markets.
Commerce Title’s high-performance platform will be integrated into Chronos’ flexible technology suite.
“Commerce Title is fully licensed to perform title work throughout California, making it a natural fit for Chronos Solutions,” Chronos Solutions CEO Matt Martin said. “With this acquisition, we deepen the resources we can offer to our clients, as well as becoming even more flexible to our clients’ needs. Commerce Title’s historical emphasis on client service, innovation and flexibility align perfectly with the Chronos strategy and business model, and we believe our customers will appreciate the additional resources we will now be able to make available to them on the title and settlement services side of the transaction.”
The acquisition of Commerce Title is the third for Chronos solutions since early 2015. The company acquired online real estate auction marketplace Realtybid.com in January 2015. Chronos then acquired credit, verification, and origination technology-based firm Cogent Road in December 2015.
“Our acquisitions are carefully selected to complement our unique approach to real estate finance services,” Martin said. “Our ability to deliver multiple service offerings and scale to meet the needs of a business of any size are what have led to our success. The acquisition of Commerce Title will only strengthen the depth and breadth of our suite of services.”