Mortgagebot acquires software firm from Canadian firm
Netupdate Inc., a subsidiary of Most Home Corp., a British Columbia real estate and mortgage solutions firm, has been acquired by Mequon-based Mortgagebot LLC. Mortgagebot paid about $600,000 for the software platform, and Most Home Corp. has retained about $107,000 in receivables it has billed or collected before closing.
With the purchase, Mortgagebot has grown its client base of banks, thrifts and credit unions to more than 900.
"Our acquisition of Netupdate unites our clients with those of the number two provider," said Scott Happ, president and CEO of Mortgagebot. "We’re confident that Netupdate clients will benefit from our business model – which is built not only on providing innovative solutions with exceptional functionality, but also delivering outstanding customer care."