DEC 2, 2013 1:47pm ET

Wipro to Buy Opus; Cole Taylor Implements Servicing Tech

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The corporate parent of mortgage technology and outsourcing provider Wipro Gallagher Solutions, Franklin, Tenn., has agreed to buy Lincolnshire, Ill.-based due diligence and risk management services company Opus Capital Markets Consultants LLC for $75 million.

The purchase price includes a deferred earn-out component, according to the acquiring company, Wipro Ltd., Bangalore, India. Portico Capital Securities LLC, Greenwich, Conn., served as the exclusive advisor to Wipro on the transaction.

All Opus founders, including both principals, will remain with the company. Titles of the principals will remain unchanged, as will the office’s location and other staffing.

In other M&A/vendor news, Cole Taylor Bank’s mortgage division is implementing Rekon Technologies’ automation to help manage lien-releases as part of its new in-house servicing operations.

Cole Taylor Mortgage entered the in-house servicing sector when it acquired some servicing rights and other assets from the Ohio-based Liberty Savings earlier this year.

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Posted by Lee G | Tuesday, December 03 2013 at 7:31PM ET
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