LendingTree Loans to acquire First Residential Mortgage Network (SurePoint Lending) - MarketLine Financial Deals

LendingTree Loans to acquire First Residential Mortgage Network (SurePoint Lending)

LendingTree Loans to acquire First Residential Mortgage Network (SurePoint Lending) - MarketLine Financial Deals
LendingTree Loans to acquire First Residential Mortgage Network (SurePoint Lending)
Published Nov 16, 2010
2 pages — Published Nov 16, 2010
Price US$ 20.00  |  Buy this Report Now

About This Report

  
Abstract:

LendingTree Loans has signed a definitive agreement to acquire assets of First Residential Mortgage Network, Inc. (doing business as SurePoint Lending), an online lender that provides residential mortgage loans, for a maximum consideration of $23 million. Both the companies are based in the US.

LendingTree Loans is a subsidiary of Tree.com, Inc., an online lending and real estate company.

As part of consideration, Tree.com will pay SurePoint shareholders an aggregate purchase price of $6 million in cash and contingent consideration up to an aggregate additional $17 million pursuant to earn out provisions over the next three years.

Petsky Prunier, LLC is acting as financial advisor to Lending Tree Loans.

The acquisition is expected to close in the first quarter of 2011.

  
Source:
Document ID
MA39014_101118
Country
Ticker
TREE=US
Format:
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Cite this Report

  
MLA:
MarketLine Financial Deals. "LendingTree Loans to acquire First Residential Mortgage Network (SurePoint Lending)" Nov 16, 2010. Alacra Store. Dec 03, 2016. <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/LendingTree-Loans-to-acquire-First-Residential-Mortgage-Network-SurePoint-Lending-2052-47554>
  
APA:
MarketLine Financial Deals. (2010). LendingTree Loans to acquire First Residential Mortgage Network (SurePoint Lending) Nov 16, 2010. New York, NY: Alacra Store. Retrieved Dec 03, 2016 from <http://www.alacrastore.com/storecontent/MarketLine-Financial-Deals/LendingTree-Loans-to-acquire-First-Residential-Mortgage-Network-SurePoint-Lending-2052-47554>
  
US$ 20.00
$  £  
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