DJSP Enterprises, Inc. Announces Completion of Timios, Inc. Acquisition
Adds Established National Title Insurance Agency
PLANTATION, Fla., July 27, 2010 (GLOBE NEWSWIRE) -- DJSP Enterprises, Inc., (Nasdaq: DJSP ) one
of the largest providers of processing services for the mortgage and real estate industries in the United States,
today announced that it has completed its acquisition of Timios, Inc., creating a national footprint for title and
settlement services to the real estate and mortgage industries.
With the acquisition of Timios, Inc, initially announced on April 19, DJSP further demonstrates its commitment to
providing market leading services to the real estate and mortgage industries for the life of the loan. During the
period between the signing of the Purchase Agreement and closing, Timios, Inc. expanded its licensing footprint
to now cover 39 States. The Company is currently working on further expanding its licensing footprint to allow it
to provide its full suite of title and settlement services in all major markets across the Country.
The acquisition complements and extends DJSP's commitment to business process excellence. The Company
plans to leverage Timios' best in class technology and fully paperless processes and operations across the existing
title operations in Florida, with the intention of recognizing significant efficiencies and cost savings.
"Completion of this acquisition represents a significant step forward in our quest to become the leading cyclical
provider of products and services to the mortgage and real estate industries," said David Stern, Chief Executive
Officer for DJSP. "The completion of the Timios transaction immediately expands our national footprint and
allows DJSP to provide increased services to our existing clients while increasing business efficiencies as a result
of adopting Timios' technology for our legacy title operations."
Richard Powers, President and COO of DJSP, added, "We are now squa