eLynx, a Cincinnati-based paperless document and data-sharing company, has agreed to acquire the Medallion Analytics Co., a Pittsburgh-based data extraction company.
According to a press release, the deal is expected to close Oct. 31. Financial terms were not disclosed.
eLynx appears to be attracted to Medallion's ability to take data directly from documents instead of their image files, which quickens data-sharing and documentation filing. Medallion also provides settlement assistance that eLynx will integrate into its services.
eLynx also cited new mortgage disclosure forms, and the coordination between lenders and settlement agents that they will entail, as motivation for the acquisition.