Solidifi Acquires Linear Title and Closing

Solidifi, a Buffalo, N.Y.-based provider of real estate valuation services, has announced its acquisition of Linear Title & Closing Limited, a Middletown, R.I.-based independent title search and closing provider.

“We are extremely pleased to announce this acquisition, which will enable Solidifi to bring our demonstrated excellence in using technology to improve the customer and field-agent experience to the large and growing title and closing market,” said Jason Smith, CEO of Solidifi. “Linear represents a great fit with our existing business and we look forward to working with them to bring the innovation Solidifi is known for to mortgage closings.”

The transaction is priced at $96 million, and Solidifi’s parent, Real Matters Inc., concurrently raised $100 million through a private placement of common equity to fund the acquisition. The acquisition of Linear is Solidifi’s third in three years, following its purchases of Kirchmeyer & Associates and Southwest Financial Services Ltd. Linear’s offices will remain in Rhode Island, and the acquisition will Solidifi’s total employee count to more than 700.