VISTA Information Solutions Buys Into E/Risk Information Services

VISTA Information Solutions, Inc., a property risk information firm, says it has purchased a majority interest in E/Risk Information Services of Santa Clara, CA. E/Risk is a residential real estate hazard disclosure marketing firm. VISTA acquired E/Risk for cash and stock, with financing from Silicon Valley Bank.

"The addition of E/Risk to the VISTA family secures a major position in the California market for VISTA, and consolidates our position as the market leader for residential disclosure and property risk information," says Thomas Gay, VISTA president and CEO. "Our current combined run rate gives as much as 20 percent of this new market. California residential real estate sales are forecasted to exceed 750,000 transactions during 1998. The real estate disclosure product is required for virtually every residential real estate transaction in the state. As we go forward, we will be combining E/Risk's capabilities with VISTA's home disclosure products, as well as expanding to states beyond California. Our established Internet commerce capabilities will be expanded to include delivery of home disclosure products.''

E/Risk's premier product, the Total Disclosure Package (TDP), helps agents and sellers address each of the three legal areas of liability exposure in California—statutory, contractual, and civil. TDP provides all required hazard disclosures, environmental listings, Mello-Roos disclosure, and each of the required booklets including lead-based paint, earthquake preparedness guide and environmental risks.

The acquisition of E/Risk follows recent announcements by VISTA of strategic marketing and distribution agreements with Stewart Mortgage Information and Stewart Title, subsidiaries of Stewart Information Services Corporation and Insurance Management Solutions Group (IMSG) and its subsidiary, GeoTrac. Under these agreements, IMSG and Stewart will market VISTA's property risk information products to their financial services, insurance, credit union and real estate customers.