There's a new gorilla on the real estate stock market scene, and its emphasis is enabling agents to share and deliver information over marketing.

Fidelity National Information Solutions (Nasdaq: FNIS - news) has closed its acquisition of HomeSeekers, Inc. (OTC Bulletin Board: HMSK - news) XMLSweb(TM) Division acquisition. FNIS is now the MLS information platform systems provider for more than sixty percent of the nation's real estate professionals.

The company says the acquisition firmly establishes FNIS as the industry's most dominant and financially stable MLS systems provider.

The definitive agreement to purchase all of the division's assets was previously announced on October 30, 2001, at which time FNIS assumed interim management responsibilities for the daily operations of the XMLSweb(TM) division.

"FNIS is committed to providing software tools that increase the productivity and earnings of real estate professionals on a nationwide basis. The successful conclusion of this transaction further solidifies that mission,'' said FNIS President and COO Eric Swenson. "With the combined offerings of HomeSeekers' XMLSweb(TM) Division and the robust offerings of the FNIS MLS Systems Division, over half of all real estate professionals in North America will be using FNIS advanced technology solutions.''

"Now that the integration of these two divisions have been completed, nearly 450 MLS organizations will be served by FNIS' MLS applications. These organizations will be using the best features from three proven Internet browser systems designed to scale from the smallest to the largest MLS organizations in North America,'' states Garry Wright, Executive Vice President of FNIS' MLS Systems Division. "HomeSeekers' XMLSweb(TM) customers will continue to receive the same solid commitment to service from a management team that is dedicated to providing the most reliable, 'best in industry' software applications to MLS organizations nationwide.''

What makes the acquisition significant is not only the market share it delivers to FNIS, but it helps add more cement to FNIS's plan to be the largest business intelligence and technology service provider to lenders and real estate professionals.

Note the emphasis on lenders as well as real estate professionals. FNIS's parent Fidelity National Financial also operates a division called Market Intelligence which is working on streamlining the appraisal system for lenders and real estate brokers. The combined efforts of FNIS and its sister company could result in the first multiple verticals transaction platform at the MLS level.

FNIS is already the nation's largest compiler of real estate-related information services and technology solutions, utilized by mortgage lenders, commercial lenders, and risk management professionals for real estate tax services, credit reporting services, flood compliance services, automated valuation and appraisal services, environment and natural hazard disclosure and other products requiring comprehensive, current and accurate databases.

Now FNIS is also the premier open architecture data and service provider in the Internet-based MLS systems industry; and, almost three-quarters of all real estate professionals in North America use FNIS advanced technology solutions across over 400 MLS organizations.

Published: December 10, 2001

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