Richey May acquires mortgage lending tech company Amata Solutions
Richey May, a firm based in Denver serving the financial services and real estate industries, has acquired Amata Solutions, which provides customized planning and business intelligence tools for mortgage lenders. The acquisition comes three months after Richey May made an investment in the company. Terms of the acquisition were not disclosed.
Adding technology services has become an essential part of firm growth strategies, as clients demand broader services from their accountants. To wit, Richey May debuted a technology consulting division, Richey May Technology Solutions, last year. Amata Solutions will fold into that division, and Amata’s founder, Benjamin Duke, will serve as executive director of data analytics within the division. He will be responsible for developing and delivering business analytics solutions for mortgage lending clients.
Richey May Technology Solutions offers technology solutions including cloud services, cybersecurity and marketing technology; as well as governance, risk, controls, privacy and technology management consulting.
Amata Solutions’ software provides planning, forecasting and business intelligence capabilities for lenders to make decisions based on real-time data. The tools can be applied to all areas of the mortgage business and can be integrated across a mortgage lender’s platforms, including their customer relationship management software, loan origination system and general ledger software.
“We were confident that our clients would love Amata Solutions when we partnered with the firm three months ago, but we may have underestimated how much,” stated Ken Richey, co-founder and partner of Richey May. “This acquisition puts Richey May in a perfect position to help mortgage lenders address tighter margins and lower volume so they can stay several steps ahead of their competition.”
“Since partnering with Richey May, we have been busier than ever,” added Duke. “There was so much synergy between Richey May’s consulting services and our products and services that it simply made sense to go ‘all in’ and join forces. Today, with our combined expertise and resources, Richey May is able to serve all of a lender’s accounting, consulting and data analytics needs more completely than any other company.”