JACKSONVILLE, Fla., Aug. 5 /PRNewswire-FirstCall/ -- Fidelity National
Financial, Inc. (NYSE: FNF), a leading provider of title insurance, specialty
insurance, claims management services and information services, today
announced the acquisition of all of the state of Colorado title insurance
operations of the Mercury Companies, Inc.
The acquired operations, which include Security Title, First American
Heritage Title, Title America and United Title, generated approximately a 30%
market share during 2007 and have a history in the state of Colorado dating
back to the 1940's. The acquisition also includes the Impact title operating
system that these operations utilize.
'We are very excited to have the opportunity to acquire such a significant
and well-established group of companies in the state of Colorado,' said FNF
Chairman William P. Foley, II. 'Our financial strength and ability to
allocate capital during difficult market conditions allow us to make this
strategic acquisition that we expect to generate significant future value for
our shareholders.'
'I am happy to announce the acquisition of our Colorado operations by
FNF,' said Jerry Hauptman, Chairman and CEO of Mercury Companies, Inc. 'FNF
is an exceptionally strong, stable and well-run title company. Its financial
strength and operational acumen will allow our Colorado operations to continue
to provide the service and performance that our customers have come to expect
for so many years. We are thrilled to become a part of the FNF family.'
'This is a significant market opportunity for FNF,' said FNF President
Raymond R. Quirk. 'With the acquisition of these Colorado operations, we have
become the market share leader in the state of Colorado. The Impact title
operating system is also a great component of the acquisition, as these
companies have effectively utilized that system for a number of years. We
welcome Security Title, First American Heritage Title, Title America and
United Title and all of their employees into the FNF family and we are
confident that our combined commitment to leading the title industry in
customer service, technology and financial strength will lead to a successful
long-term partnership that will set the standard for title insurers in the
state of Colorado.'
Fidelity National Financial, Inc.
