Mergers and Acquistions News
Categories: IT Services & Consulting
December 10th 2009, 13:55PM
A leading mortgage sourcing provider has secured a major acquisition after purchasing the intellectual property rights for an innovative software platform.
Mortgage Brain, which offers a number of services to mortgage brokers, has acquired the use of The EdgeV2 platform from Enterprise Group administrators for an undisclosed amount.
Mark Lofthouse, the company's chief executive, explained that the software will allow Mortgage Brain's "loyal customer base" to benefit from access to a leading market solution.
"As part of the agreement, all EdgeV2 users now have the opportunity to be amongst the first brokers to use the all new Mortgage Brain," he said.
Mr Lofthouse went on to say that the new software will "revolutionise the mortgage sourcing industry", pointing to the fact that it can be used while on the internet or away from it.
According to a report in the Financial Times, the new system will allow users to undertake almost all mortgage searches and selections from a single screen.
Edge announced in July that its mortgage software was used by over 12,000 brokers around Britain.
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