Landmark acquire automated valuation business – 14th July 2010

Landmark one of the leading providers of environmental search data for conveyancers have announced the acquisition of Calnea Analytics. Calnea provides residential property information and advanced data modelling including AVMs, web services and risk tools to government, lenders, surveyors, estate agents and the general public.
Landmark which is a part of the Daily Mail Trust Group of companies has previously acquired Quest (the valuation exhange business) and is quickly growing into a provider of data services property and mortgage related transactions such as planning reports, flood risk reports, digital mapping technology as well as the environmental data services known to many conveyancers.
In a move that doesnt directly impact on conveyancers many conveyancers will look at this business and others like it such as MDA Searchflow and note that many of the services that sit on the edge of the conveyancing world are being acquired.
Stephen Stout of Landmark said: "Calnea has a valuable set of skills and information that will enable us to deliver sophisticated property management tools to surveyors, risk and fraud managers, and the broader financial markets. Calnea’s renowned data modelling expertise will enable Landmark to exploit the full potential of our huge property information database, with a particular focus in the short term of helping lenders improve risk management and combat fraud.  Calnea will run as an independent business within the group, and we will continue to work closely with other valuation technology providers."
Selwyn Lim, on behalf of Calnea comments: "We are very proud to have joined the DMGI group. We share with Landmark’s team a commitment to developing products that meet the changing needs of the property industry. We are excited about the prospects for doing so as part of such a well regarded and highly reputable business."
Calnea’s Automated Valuation Model (AVM) is fully approved by major credit ratings agencies and provides statistical consultancy to Land Registry. Its data products are widely used by leading mortgage lenders and also Quest, where the information is integrated within its Q-Guard fraud detection and prevention system. Calnea’s Mouseprice website carries more than 550,000 live property listings, as well as providing free valuations and an invaluable source of research data for the public and surveyors alike. Calnea has also developed bespoke data solutions for the valuations industry, including the ‘fly-by’ desktop valuation tool.
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