Wolters Kluwer to Acquire Cloud-Based Digital Lending Software Company for Cash
UNDATED -- Wolters Kluwer Governance, Risk & Compliance will acquire eOriginal, a provider of cloud-based digital lending software.
Wolters Kluwer, which has an office in St. Cloud, announced Thursday it will buy the company for about $280 million in cash.
Founded in Baltimore in 1996, eOriginal is the parent company of eAsset, SmartSign and ClosingCenter. The company serves over 650 customers in the U.S., including banks, mortgage lenders, consumer lenders, and auto and equipment finance lenders and employs roughly 100 people.
“The acquisition positions us as the leading provider of digital lending solutions, spanning all workflows from loan approval, to document preparation and closing, with compliance certainty," said Steven Meirink, executive vice president and general manager, Compliance Solutions Wolters Kluwer GRC.
eOriginal’s revenues have grown at a double-digit rate in the last three years, according to Wolters Kluwer.
The purchase is expected to be finalized by the end of the year.