Verso Capital, the owner of mortgage data and software company Mortgage 27, has acquired the assets of sourcing system provider CDS Group for an undisclosed sum.
Both businesses will form part of a new financial services software division within Verso, which will be headed up by current Mortgage 27 managing director James Tucker and chaired by Verso Capital chairman and chief executive James Gray.
CDS Group was founded in 2008 by Peter Heigho, the original founder of Trigold, and is a specialist software house providing mortgage brokers with a back office mortgage sourcing system, known as “The Core”.
Gray says: “Mortgage Brokers at both individual, company and network level have been looking for a seamless and efficient solution to managing the business process.
“The CDS systems significantly improve the efficiency of the mortgage application process by allowing seamless transmission of client data from web tools, to sourcing and CRM, through to application submission, without the need to re-key the data. This ensures a higher rate of success on application submissions, providing significant cost and time savings to both brokers and lenders.”
Heigho says: “We are delighted to see this deal come to a conclusion and become part of the Verso Capital portfolio of companies. This deal enables us to accelerate our development and bring these client driven solutions to market.”