Voxtur Executes Share Purchase Agreement With Anow
Strategic Acquisition Strengthens Technology Toolbox
- The Acquisition adds a broad product suite to manage and automate end-to-end appraisal processing with streamlined big data, machine learning, and process automation functionality.
- Provides a stable reoccurring subscription-based revenue stream derived from a diverse customer base across North America, South America, Europe, Africa, Asia, and Oceana.
- Historical year-over-year revenue growth rate of >75%, with average revenue churn of <1%
- Multiple patents pending on new, market-leading functionality to support an “appraiser-first” model that benefits all value-chain participants from lenders to consumers.
- Works directly with appraisers, lenders, and appraisal management companies to digitize the entire appraisal value chain on all current and future Fannie Mae &
Freddie Mac appraisal forms.
TAMPA, Fla. and TORONTO, March 30, 2021 (GLOBE NEWSWIRE) -- Voxtur Analytics Corp. (TSXV:VXTR) (“Voxtur” or “the Company”) is pleased to announce that it has executed a share purchase agreement (“SPA”) for the acquisition of 100% of the issued and outstanding common shares of Appraisers Now Ltd. (“Anow”) (the “Acquisition”). Anow is an automated appraisal workflow management system for the global appraisal market, with significant market share in the U.S. and Canada. This highly strategic Acquisition accelerates the development of Voxtur’s data ingestion engine allowing customers to achieve optimal efficiency and cost-savings.
“Bringing Anow into the Voxtur family is just another example of how the necessary uberization of professional services across the lending life cycle is empowering professionals to do their job, better, faster and cheaper,” said Chairman and CEO Gary Yeoman.
The Anow platform is the only digitized appraisal records platform in North America that allows appraisers to sync their workflow directly to the lender, creating a more streamlined, customized process. Anow has reduced appraisal turnaround times by more than 25% by putting the entire business into one interface.
“We are excited about joining forces with the Voxtur brand,” said Anow President Marty Haldane. “The Anow technology streamlines the appraisal process and has broad applicability to the workflow technology across all the Voxtur business segments.” Marty further stated, “We have tremendous respect for Gary and the business he has built. Gary’s strong reputation and knowledge of the appraisal space was a significant factor in our decision to join his team, and together we will continue to build a leading technology platform that puts our clients first.”
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