November 27, 2012
Raleigh, NC and San Diego, CA, November 27, 2012 — TVC Capital has acquired financial services software company ReverseVision, Inc. in an all cash transaction. The deal includes an equivalent equity purchase of interrelated company, ReverseDocuments, Inc.
John Button has been appointed the new President of the companies. Thomas Martignoni, the founder of ReverseVision will continue with the companies.
Raleigh, NC-based ReverseVision, Inc. and ReverseDocuments, Inc. are leaders in loan origination software and document preparation for lenders in the reverse mortgage industry. The companies serve over 100 banks throughout the US and currently have over 50% market share in their segment of the mortgage industry.
TVC Capital is a San Diego-based growth equity firm that invests in and acquires software companies meeting a mission critical need of their customer base. TVC has a strong interest in the financial services industry and has twice been the owner of forward mortgage origination software company Del Mar Datatrac. Incoming executive John Button was a senior manager at Del Mar Datatrac for many years and has spent a significant portion of his career in the mortgage software industry.
Thomas Martignoni stated, “Over the past eight years, ReverseVision grew from a small start-up to become the market leader in reverse mortgage origination technology. The company has an outstanding team and a proven and scalable technology platform. With many new projects in the pipeline, the company is well positioned to continue its technological leadership. It is a great honor that we can partner with TVC Capital. Adding the resources and expertise of TVC Capital ensures an even brighter future for ReverseVision.”
Jeb Spencer, Co-Founder and Managing Partner of TVC Capital commented, “We are delighted to partner with Thomas Martignoni and the ReverseVision team and continue their tradition of excellence and innovation in the industry. We plan to maintain the high level of focus on both meeting and anticipating customer need with advanced technology solutions. We feel a great sense of responsibility in assisting our lenders as they work to help seniors to stay in their homes and age in place.”
New President John Button remarked, “I am very pleased to have the opportunity to work with the ReverseVision team and all of its customers. ReverseVision has achieved a high level of service and support. It’s an honor to help the team continue and expand that high performance.”
Financial terms of the transaction have not been disclosed.
About TVC Capital, LLC
TVC Capital is a San Diego-based growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms. TVC Capital targets a wide spectrum of software sectors and industry verticals that are poised for growth and consolidation. The TVC team is led by Jeb Spencer, Steven Hamerslag and Chris Noser, operating executives with more than 60 years of experience growing technology companies into market leaders. TVC Capital portfolio companies included Accordent Technologies and Del Mar Datatrac, and current investments include Limeade, Anametrix, Mercent Corporation and Halo Business Intelligence. For more information, visit www.tvccapital.com.
About ReverseVision, Inc. and ReverseDocuments, Inc.
ReverseVision is the leading technology company for reverse mortgage software. ReverseVision is located in Raleigh in the Research Triangle of North Carolina and employs a team of leading software engineers and architects with a combined experience of over 50 years. One out of every two reverse mortgages in the US is originated and closed with ReverseVision technology. ReverseDocuments provides document preparation services for the reverse mortgage industry. The company maintains a library of documents for all 50 States as well as Spanish documents for Puerto Rico. For more information, visit www.reversevision.com.