Kansas City’s Novation Companies Sells StreetLinks Business - O'Keeffe and O'Malley

Kansas City’s Novation Companies Sells StreetLinks Business

Apr 17, 2014

Kansas City-based Novation Companies Inc. has sold one of its subsidiaries, StreetLinks LLC, to Assurant Inc. Novation owned approximately 88% of StreetLinks.

Assurant Inc is an insurer of foreclosed homes and other services for the mortgage industry, and StreetLinks provides banks and mortgage lenders with full service appraisal management services and appraisal management software.

Novation owns and operates early-stage businesses in the technology-enabled services industry. Other companies owned either wholly or in majority by Novation are CorvisaCloud LLC and Advent Financial Services LLC.

The selling price was $60 million in cash, plus a potential earn-out payment of up to $12 million post-closing, based on the performance of StreetLinks.