ExactBid Acquires Appraisal Software Maker Narrative1
ExactBid in San Jose, Calif., has acquired Narrative1 in Plymouth, N.H., in a combination of technology firms that focus on the commercial real estate lending industry.
Narrative1's software automates processes for appraisers, assessors and lenders. It provides appraisal templates for retail, multifamily and mixed-use facilities, and also valuation spreadsheets, comps databases and mapping tools.
ExactBid provides software that allows lenders to manage real estate information. ExactBid's software automates the appraisal process for banks by connecting them with a network of appraisers and due diligence vendors.
Terms of the deal were not disclosed.