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Fidelity Hopes to Fortify Its Market Position by Acquiring National Information Provider

IRVINE, CA-The parent company for Fidelity National Title, Chicago Title and other title insurance companies has purchased a firm with an information database that includes a Website for real estate professionals.

By Joel Cone | Updated on January 07, 2001

IRVINE, CA-Fidelity National Financial, Inc., the parent company for Fidelity National Title, Chicago Title, Ticor Title, Security Union Title and Alamo Title, has acquired International Data Management Corp., one of the nation’s largest providers of real estate information. Details of the acquisition were unavailable.

Working in conjunction with Lexis-Nexis, IDM has compiled a database containing more than 100 million real estate sales and ownership records. The database covers 1,050 assessment counties and 580 recorder’s counties in 48 states. Updated on a daily basis, IDM’s resources account for changes in property ownership for 75% of all property owners in the country.

“With the IDM deal, we have what’s called real estate-related services. It gives us a backbone of information on a number of different fronts,” says Daniel Kennedy Murphy, director of investor relations for FNF. “It allows us to offer a lot of different services such as flood certification and tax services. [It also] allows us to do things more efficiently and to lower our cost.”

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