MDA completes sale of xit2
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Macdonald Dettwiler & Associates has announced that the formal sale of its entire Information Products Division to TPG Capital has been completed today.
TPG has established a new holding company called Property Data Holdings into which these businesses will now sit.
These include xit2, SearchFlow, and the NLIS Hub in England and Wales, Millar and Bryce in Scotland, Rochford Brady in the Republic of Ireland, together with the joint venture company Wertwiser in Germany, which form a wider group of European businesses within Property Data UK Limited.
xit2’s existing management team will continue to operate and work in conjunction with TPG Capital’s executives in order to realize its growth objectives in the years ahead.
Mark Blackwell, managing director of xit2 says: “While its business as usual with the change of ownership, we are excited about the opportunities ahead for our customers, as we look to expand and develop to support their needs now and in the future.”
Chris Cartwright, CEO of Property Data US, who will provide global executive leadership, says: “We are excited to work with all of the experienced and committed employees in the U.S., U.K. and Canada.
“The global business units offer valuable, data-driven workflow solutions that enable real property related professionals to increase productivity and manage risk. With the resources and commitment of TPG, I believe we an expand both our capabilities and our customer base.”
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