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Covius to acquire various businesses from Chronos Solutions

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Covius to acquire various businesses from Chronos Solutions

Covius Holdings Inc. agreed to acquire various businesses from Chronos Solutions LLC.

These businesses include credit reporting and modeling, borrower verification services, flood determinations, appraisal review technology, lien release and tax tracking, homeowners association risk mitigation services, government services, real estate owned-asset management and disposition services and online foreclosure auction services.

The deal is expected to close in the next month or two.

Evercore was Covius' financial adviser, Willkie Farr & Gallagher LLP its legal counsel and Alston & Bird LLP its regulatory counsel. Jefferies was Chronos Solutions' financial adviser in the deal.

New Residential Investment Corp. made a strategic investment in Covius in May. Covius provides various services to financial services institutions, such as compliant document services, comprehensive settlement services, and lien and title curative solutions.