Zaio Corp., a Canadian-based provider of appraisal reports prepared by licensed appraisers across the U.S., announced May 26 that upon receiving the 2014 Audited Financial Statements of Valuation Vision LLC and all other necessary requirements, the pending asset purchase is officially scheduled to close May 29. Valuation Vision is a California-based provider of alternative valuation products.
Valuation Vision brings proprietary order management technology and an analytics platform supported by an experienced team of real estate technology and data professionals. The recently launched BPOMerge product is an innovative valuation solution developed by Valuation Vision, where multiple agents provide independent research and price opinions. The patent-pending MergeValue algorithm scores agent performance to determine the most probable outcome as a reconciled value. With 18 expert-selected comparables and more than 40 site-inspection data elements, BPOMerge provides a significant amount of data and insight on the subject property.
In December 2014, Zaio Corp. entered into a definitive binding purchase agreement with Valuation Vision for the acquisition by Zaio of substantially all of the assets and certain liabilities of Valuation Vision. Upon closing the transaction, the assets and management team of Valuation Vision will be held and transitioned into a wholly owned subsidiary of Zaio.
“We are pleased to be completing the Valuation Vision acquisition this week,” Zaio Corp. CEO and President David King said. “While Zaio and Valuation Vision have been strategically aligned for some time, the ability to report and formally present ourselves as a consolidated company will continue to drive opportunities for proprietary Zaio and Valuation Vision products and data into all sectors of the U.S. finance and mortgage industry.”
“From our first meeting, we knew that Zaio offered tremendous synergies and would make an excellent strategic partner, as our existing businesses were so obviously complementary,” Valuation Vision CEO Shane Copeland said. “Completing the 2014 audit was our final milestone to achieve. We are excited to completely align with Zaio, and soon, with Axis Appraisal Management Solutions as well, so that we can provide a full spectrum of valuation solutions for our clients.”