The First American Corp. has extended its reach in the multiple listing service technology market with the acquisition of Offutt Systems, a privately held MLS technology provider based in Greensboro, N.C.
Terms of the transaction, which closed on Aug. 1, were not disclosed.
OSI will be operated through First American MLS Solutions Inc., a division of First American Residential Group and provider of MLS technology and support services to real estate professionals in North America.
First American said it will continue to run OSI operations under the direction of its current management team from the company’s main office in Greensboro, N.C.
Established in 1971, OSI today offers services to more than 60 MLS organizations and about 80,000 users across the country. Its core product is called InnoVia. The addition of OSI increases the total number of real estate professionals now served by First American MLS technology to just over 600,000.
“This acquisition extends our reach into a market segment we haven’t traditionally served through our TEMPO and MLXchange MLS products, and is consistent with our strategy of providing unparalleled choice for real estate professionals seeking integrated technology solutions in a highly fragmented market,” said Stephen C. Roney, president and CEO of First American Residential Group. “OSI has been a successful and profitable operation for many years, and we intend to use First American’s extensive resources to further grow and enhance this business, while delivering high-quality products and the same attentive service that OSI’s loyal customers have come to know and expect.”
