Herndon, VA (PRWEB) August 22, 2011
CompuGain is pleased to announce the acquisition of the Mortgage Division of Overture Technologies, Inc., a leading provider of decisioning software solutions. Overture Technologies applies decades of experience in the mortgage finance industry to provide specialized tools that help customers make informed and sound decisions about what to buy or sell and what to approve or refer. Overture’s solution suite is a high-performance loan decision system that can be used for loan-level and pool risk assessment, eligibility, and pricing of new and seasoned assets.
“We are extremely excited to announce the acquisition of Overture Technologies Mortgage division. Together, with the addition of the Overture staff and product offerings, CompuGain will now have the ability to deliver fully integrated and best in class services to the Mortgage Finance domain”, said Debasish Hota, President & CEO of CompuGain Corporation.
Overture’s Mortgage division enables transparent, accurate, and responsive lending processes required for the mortgage and finance industries. With the addition of Overture’s Mortgage division, CompuGain will be able to leverage its existing service offerings to enhance and implement a world-class decisioning software solution to existing and new clients.
“Overture is proud to be a part of the CompuGain team. Their past performance as a professional services firm, their financial strength and the exceptional intellectual capital that resides within the walls of CompuGain is a huge asset and something that we look forward to being able to leverage to help our clients realize their business objectives. We are extremely fortunate and excited to be a part of the next chapter in CompuGain’s history”, said LeRoy Pingho, CEO of Overture Technologies, Inc.
The newly acquired company will operate as a wholly-owned subsidiary of CompuGain Corporation and will conduct business under the “Overture Financial Solutions” business name. Together, CompuGain and Overture Financial Solutions will consult and work as an integrated delivery team to help its business partners make better and more informed decisions utilizing an integrated set of CompuGain/Overture solutions.
About Overture Technologies, Inc:
Founded in 2000, Overture Technologies is the leading provider of decisioning software solutions that enable the transparent, accurate and responsive lending processes required for today’s mortgage and education finance industries.
Overture’s customers are dedicated to providing superior mortgage underwriting, servicing and securitization services and to increasing students’ access to higher education financing alternatives. The leadership team shares in these goals and applies decades of experience from leading financial services and technology firms including Fannie Mae, Freddie Mac, Goldman Sachs, IBM and KPMG to helping its customers achieve those goals.
Specific to the Mortgage Finance Solutions division, Overture serves the breadth of the mortgage finance value chain with automated decisioning technology for underwriting, pricing, servicing and valuing mortgage loans and mortgage assets.
For more information about Overture Technologies, please visit http://www.overturecorp.com.
About Compugain Corporation:
CompuGain is a global provider of Professional Services and innovative IT Solutions.
Established as a certified Minority-Owned Business Enterprise (MBE), CompuGain has partnered with its clients in a variety of industries to help improve productivity, reduce costs and increase revenue. CompuGain understands the importance of running an agile business - CompuGain offers a total professional service offering that includes contract placement, temp-to-perm, permanent placement, consulting and project based engagements to help its clients operate more efficiently. With an expanded and fully integrated portfolio of professional services and with an ever-increasing global footprint, CompuGain is well-positioned to support the business growth of its clients.
For more information about CompuGain, please visit http://www.compugain.com.
Advisory Services and Representation:
CompuGain was advised by o3 Capital Global Advisory a full service international Investment Bank with offices in New York, Mumbai and Bangalore and represented by Pillsbury, a full service law firm in Fairfax, Virginia.
Overture was represented by Odin, Feldman & Pittleman, PC a full service law firm headquartered in Fairfax, Virginia.