DALLAS, TX -- - HDM Technology Enhances Data Intelligence for First American Flood Data Services Customers - First American Real Estate Information Services, Inc., a subsidiary of The First American Corporation (NYSE:FAF), announced today that it has acquired Harvard Design and Mapping Company, Inc. (HDM), a leading provider of Geographic Information Systems (GIS) technology to businesses and governments worldwide. Terms of the acquisition, which closed March 1, 2006, were not disclosed.
"HDM will strengthen our ability to use GIS technology solutions to help our clients effectively handle their flood risk and data management needs," said Barry M. Sando, president of The First American Corporation's Mortgage Information and Services Group. "The combination of First American's superior data and analytics and HDM's high quality GIS software, technology and services will provide both companies' clients with an outstanding array of benefits."
GIS technology includes computer platforms that are capable of assembling, storing, manipulating and displaying geographically referenced information. GIS helps governments and businesses make better decisions and solve problems by understanding past, present and future scenarios, and are especially useful in land-use planning decisions.
The combination of HDM's InsMap(TM) natural hazard analysis and portfolio monitoring product with First American's flood risk products will create a comprehensive picture of any property's risk exposure in real-time and integrated with sophisticated GIS-based models.
HDM's founders, Kija Kim and James Aylward, as well as chief technology officer Dr. Wei Du and senior vice president David Chadwick, will remain with the company.
"We look forward to working within the First American family of companies to provide enhanced products and services to our combined client base," said Kim. "Working within the largest real estate data company in the world gives HDM a great advantage in providing superior products and services to existing and new clients in government and industry."
About The First American Corporation
The First American Corporation (NYSE:FAF), a FORTUNE 500(R) company that traces its history to 1889, is America's largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people's lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, and Risk Mitigation and Business Solutions -- a new segment that the company formed in 2005 by combining its Credit Information and Screening Information segments. With revenues of $8.1 billion in 2005, First American has approximately 2,100 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.
About Harvard Design and Mapping, Inc.
Founded in 1988, HDM is a leader in the development of advanced geospatial technology including real-time, multi-hazard portfolio analysis. With offices in Cambridge, Mass., and Arlington, Va., HDM provides state-of-the-art, location-based technology services, software and technology to FORTUNE 1000(R) businesses and federal, state and local governments worldwide. HDM's Government Solutions Division has provided over 20 U.S. federal government agencies, including DHS/FEMA's Flood Map Modernization Program, with leading-edge software, systems integration and geospatial data management services. One of the first GIS consulting companies in the United States, HDM's innovative, solutions-based approach maximizes decision support while enhancing business intelligence. For more information please contact Jim Aylward at (703) 224-1414 x211, or visit www.hdm.com.
Contacts:
Gerry Smith
First American Mortgage Information Services Group
(214) 879-5887
gesmith@firstam.com
David Schulz
The First American Corporation
(714) 800-3298
dschulz@firstam.com
Source: The First American Corporation
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| Notes:
CONTACT: Gerry Smith of First American Mortgage Information Services
Group, +1-214-879-5887, gesmith@firstam.com, or David Schulz of The First
American Corporation, +1-714-800-3298, dschulz@firstam.com
Web site: http://www.hdm.com/
Web site: http://www.firstam.com/
About This Release
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