Teraverde, Stratmor clarify no merger took place

Teraverde and Stratmor want to make it clear that the proposed merger announced over a year ago between the two was never completed.

The misconception, both Teraverde's Jim Deitch and Stratmor's Garth Graham said, came about from an artificial intelligence generated answer to a search engine question.

The deal was announced last May at the Mortgage Bankers Association's Chairman's Conference.

But by July, both companies decided it was better to remain separate and to continue their current relationship, Graham, a senior partner at Stratmor, said. They remain independent companies and collaborators, Teraverde CEO Deitch added.

However, at the recent 2025 Chairman's Conference, Deitch was approached and asked how the combination was going and eventually was shown a copy of the AI generated response.

It was the only time where it became apparent some misperceptions about the transaction's ending existed, Graham said, finding "there's some people here who didn't realize it, despite the fact that both still have a website, both still have contracts with customers."

Still, to end any confusion, Teraverde posted on LinkedIn on June 15 that the deal had been terminated.

Teraverde has great respect for what the management team at Stratmor, including Graham and Michael Grad, are doing, Deitch said.

Why was the Teraverde-Stratmor deal called off?

"We just felt, given our focus on the data centric solutions and our desire to really invest in this space, it was better for us to continue independent, but continue to cooperate as the situations arose," Deitch said.

Since the transaction was cancelled, both companies have continued on their respective paths.

Teraverde, which is based in Lancaster, Pennsylvania, has opened up an office in Naples, Florida, the Florida Center for Technical Excellence, Deitch said.

"We do data products, we do expert testimony and we do financial consulting, and we're continuing forth on those with a focus on the technology side," Deitch said. "We've opened the office in Naples and continue to invest in building our technology capability and our data solutions."