Broker/Fintech Provider Acrisure Buys New York-Based Tempo Title
Acrisure, the global insurance broker and fintech services provider, announced it has entered the real estate services business through its acquisition of Tempo Title, one of the largest private title insurance and settlement service providers in the United States.
Financial terms of the transaction were not disclosed.
Through this acquisition, Acrisure will establish Acrisure Real Estate Services, a new division to provide homeowners, lenders and investors a broad suite of real estate services. With an existing concentration of Acrisure’s insurance book in construction, home, real estate and related lines of business, this new division will immediately add value to existing and future clients.
“Customer needs go beyond our core insurance lines and Acrisure has the team, technology and customer focus to be a singular provider for multiple financial solutions,” said Greg Williams, co-founder, president and CEO of Grand Rapids, Mich.-based Acrisure.
“Deals of this magnitude need to work strategically and culturally. With Tempo, we have a partner that anticipates and solves client needs, and does so with the same focus on autonomy, entrepreneurship and growth that powered Acrisure from $38 million to $3 billion in revenue in just over eight years,” Williams added.
Acrisure Real Estate Services joins Acrisure Asset Management as new divisions established by the company in 2021, signaling Acrisure’s intent to serve customers and grow beyond its traditional insurance business.
Like all parts of the company, Acrisure Real Estate Services will tap into Acrisure’s artificial intelligence and data analytics capabilities, Acrisure said in a statement.
“By partnering with best-in-class firms, we built one of the largest, most diverse independent title and settlement businesses in the country,” said Jason DeYonker, CEO of Tempo Title and head of Acrisure Real Estate Services. “In this new chapter as part of Acrisure, we’re combining to form one of the world’s leading financial services companies and pioneers of using the best of human and AI to solve customers’ complex needs.”
Headquartered in New York City, Tempo Title operates from 90 different office locations and is licensed in 43 states. Since its formation, Tempo Title rapidly expanded to over $300 million in annual revenue. With this announcement, the rebranding of Tempo to Acrisure Real Estate Services will occur over the near term. Tempo Title’s operating partners will continue operating under their own brand names.
Source: Acrisure