Landmark Information Group has bought the conveyancing panel management business of Aventria.
Landmark will rename the business, which serves mortgage brokers and other introducers across the UK, as Optimus.
Alan Young, the current chief commercial officer at Aventria, will take on the role of managing director of the Bristol-based Optimus team. The acquisition does not include Aventria’s asset management business.
Simon Brown, chief executive of Landmark Information Group, said: “We are delighted to announce the acquisition of the conveyancing panel management business from Aventria.
“The business is a game-changer in the market, with excellent technology integration to provide greater transparency for all. Optimus is a good fit with Landmark’s other property information and software assets, where we are also investing for growth.
“The acquisition is transformational for Landmark, enabling us to work more closely with mortgage brokers and other introducers, while continuing to serve existing complementary markets such as legal conveyancing, estate agency and mortgage lending.
“With our investment and technology expertise, we look forward to enhancing the Optimus offering and extend a warm welcome to the team.”
The investment by DMGT, the owners of Landmark, recognises the opportunities the Group continues to see in the property information market.
Besides Landmark, DMGT also owns Trepp and BuildFax and, until last year, was the largest shareholder in ZPG Plc, the owner of Zoopla that was sold in a £2.2bn transaction.
Optimus’ conveyancing panel management services provide mortgage brokers and introducers with access to a select panel of pre-approved and regulated conveyancing partners.
Alan Young, MD of Optimus, is well-known in the intermediary market having spent more than 15 years in the sector.
He joined Aventria Group as chief commercial officer in October 2018.
He said: “Our conveyancing panel management services fill a market need in helping brokers and other introducers better support their clients with the property transaction process, whilst keeping everything transparent and fair for all parties.
“Our technology integrates seamlessly with introducers and conveyancers to ensure a smoother, faster transaction process.
“With increased investment from Landmark in technology and business development, we plan to expand our proposition and I’m excited about how the new Optimus brand will evolve over the coming months.”