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Fidelity National Financial, the title insurance giant, announced this week that it acquired a majority interest in SkySlope, a provider of digital transaction management and closing solutions to real estate professionals.
According to details provided by Fidelity National, SkySlope's cloud-based digital transaction management platform is currently used by more than 1,500 brokerages across 5,000 offices and 140,000 agents to facilitate approximately 1.5 million real estate transactions over the past year.
Tyler Smith, founder and CEO of SkySlope, said that the deal with Fidelity helps take the company to the next level.
“Since inception, SkySlope has been focused on building leading products that drive efficiency and operational insight for our brokerage customers,” Smith said. “We are excited to enter this new phase of SkySlope's growth in partnership with FNF, who has a long-standing track record of delivering valuable technology and services to the real estate industry.”
Fidelity Chairman William Foley said that acquiring the majority interest in SkySlope allows Fidelity to provide a fuller breadth of services to its clients.
“SkySlope will broaden FNF’s service offerings to real estate professionals and further advance our strategy of providing a suite of best of breed technology assets to help real estate agents and brokers gain more customers and more efficiently close transactions.” Foley said. “FNF aims to offer real estate professionals a robust set of technology solutions and SkySlope's transaction management platform and SkyTC transaction coordination services are integral parts of this vision.”
