Overture Technologies sold its mortgage division to CompuGain Corp., in a deal announced Monday.
The Herndon, Va.-based CompuGain will operate the unit as a wholly owned subsidiary called Overture Financial Solutions. Financial terms were not provided.
CompuGain provides professional and IT services to multiple sectors. "By adding them to our solutions, CompuGain now has the ability to deliver fully integrated, best-in-class services to our mortgage finance clients,” said Debasish Hota, CompuGain president and CEO.
Bethesda, Md.-based Overture Technologies provides workflow and decisioning technology to the mortgage and education finance industry. After the deal, Overture will retain its student loan business, which includes an online portal for universities and students.
“CompuGain's past performance as a professional services firm, their financial strength, and the exceptional intellectual capital are huge assets, and we look forward to leveraging them to help current Overture customers realize their business objectives,” said LeRoy Pingho, CEO of Overture Technologies.
The deal follows last week's announcement that global consulting and outsourcing provider
