CSC Press Release
FOR IMMEDIATE RELEASE
March 12, 2012
CORPORATION SERVICE COMPANY ACQUIRES INGEO SYSTEMS
CSC now a "one-stop" provider of real estate document recording servicesWilmington, DE, -- Corporation Service Company® (CSC®), a leading provider of business, legal and financial solutions, today announced its recent acquisition of Ingeo Systems Inc., the nation's top provider of electronic real estate document recording (eRecording) services. The terms of the deal were not disclosed.
The Ingeo purchase firmly establishes CSC as the industry's only "one-stop" provider of real estate document recording services. "We're proud of the new capabilities this acquisition brings to CSC," said Rodman Ward III, CSC president and CEO. "We can now help customers manage every aspect of their real estate document needs, reducing their wait-times, rejection rates, and costs in the process."
Ingeo (www.ingeo.com) offers eRecording software solutions for both real estate document submitters—including banks, title agencies and other companies—and recorders, the county offices that process document recording requests. By partnering with Ingeo, submitters reduce costs and risk and enjoy the industry's lowest rejection rates. County recording offices also realize labor and cost savings with Ingeo's services. Both submitters and recorders benefit from shorter turnaround times—from weeks and months to as little as hours or minutes.
Fourteen of the nation's 20 largest banks and most major title companies currently use Ingeo's services, and recording offices in nearly 500 U.S. counties have partnered with Ingeo to electronically record their documents. In addition, Ingeo has partnered and integrated with all the major land record solution providers and industry aggregators.
"In CSC, Ingeo has found a partner with complementary businesses, a strong foundation and an outstanding reputation," said Karl Klessig, president of Ingeo Systems. "Our merger will allow us to build on our many strengths and preserve our commitment to offering best-in-class eRecording solutions."
The Ingeo acquisition, coupled with recent enhancements to CSC's Web-based UCC search, filing, and monitoring application, CSCFinancialOnline, makes it possible for CSC customers to prepare, record, and manage residential and commercial real estate documents in any of the approximately 3,600 U.S. recording jurisdictions. No other service provider offers a comparable solution for the preparation and recording of post-closing commercial and residential real estate documents.
Corporation Service Company (CSC), a privately held business and legal services organization, provides matter management, corporate compliance, and registered agent services for companies and law firms worldwide; corporate identity protection services for top global brands; due diligence and transactional services for the world's largest financial institutions; and recording solutions for commercial real estate participants.In 2011 CSC acquired MLM Information Services, the industry's foremost corporate tax management services provider through its wholly owned subsidiaries, Corptax Inc. and Tax Compliance Inc. (TCI). Founded in 1899, CSC today has more than 1,600 employees throughout North America and Europe. Visit www.cscglobal.com to learn more.