First American Financial to acquire Data Tree
First American Financial (Santa Ana, CA) has agreed to acquire Data Tree (San Diego) for an undisclosed amount. FAF is a top provider of real estate-related financial and information services; Data Tree offers database management and document imaging systems to county recorders, governmental agencies and the title industry. The deal will be a stock-for-stock transaction. Data Tree offers two document management products, designed for real estate agencies, county recorders and government agencies. Titlescape is a subscription-based document management system, designed for the title industry, that combines access to online databases of title documents with integration software. IDEA (Indexing Document Extraction Application) is an imaging and document management system designed for county recorders and other government agencies. The products "greatly accelerate the ability to search title and retrieve recorded documents electronically from central locations," said FAF president Parker Kennedy.