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Ideanomics completes acquisition of title and settlement firm Timios Holdings Corp

Ideanomics expects Timios will become one of the cornerstones of Ideanomics Capital, its fintech business unit

Ideanomics Inc -
Ideanomics said CEO Raymond B Davison and President Joseph Montag will continue to lead Timios

Ideanomics Inc (NASDAQ:IDEX) (FRA:0V5) announced Monday that it has completed its previously announced acquisition of privately-held Timios Holdings Corporation. 

Timios, a nationwide title and settlement solutions provider, has been expanding in recent years through offering innovative solutions for real estate transactions, including residential and commercial title insurance and closing and settlement services, as well as specialized offerings for the mortgage industry. 

In a statement, Ideanomics said CEO Raymond B Davison and President Joseph Montag will continue to lead Timios, and the company “will retain its current leadership, personnel, branding, and culture and operate as an entity within the Ideanomics Capital division.” 

READ: Ideanomics to acquire 100% of title and settlement firm Timios Holdings in an all-cash deal

The company noted that Timios combines difficult to obtain licenses, a knowledgeable and experienced team, and a scalable solutions platform to deliver best-in-class service through both centralized processing and a localized branch network.

“Ideanomics will assist Timios in scaling its business in various ways, including referring client acquisition and product innovation,” the company said in a statement.

The company offers title and settlement, appraisal management, and real-estate-owned (REO) title and closing services in 44 states and currently serves more than 280 national and regional clients.

WAVE featured in broadcast

In a separate statement, Ideanomics also revealed that it has been featured in a broadcast via NetworkNewsAudio (NNA), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio press release covers the definitive agreement recently signed to acquire 100% of privately held Wireless Advanced Vehicle Electrification, Inc. (WAVE).

"The acquisition of WAVE is a significant one for our EV efforts across the board. We are excited to bring Michael Masquelier and his team into the Ideanomics family, where we can inject significant growth capital to enable WAVE to further accelerate its business and bring wireless charging to our product offerings. WAVE has become a market leader in inductive charging systems, which are much better suited for commercial EVs than plug-in charging systems," said Alf Poor, Ideanomics CEO in the statement.

"WAVE complements our Medici Motor Works and Treeletrik businesses, and our investment in Solectrac, and is aligned with our MEG division's Sales to Financing to Charging (S2F2C) model. This is a win-win all around, which will help maximize shareholder value. We're thrilled to have signed the definitive agreement for this acquisition so we can get to work immediately on the opportunities this brings to both Ideanomics and WAVE."

"Fast, safe, in-route charging is key to enabling commercial EVs to match the range of internal combustion vehicles," said Michael Masquelier, WAVE's Founder and CEO. "Joining the Ideanomics family will allow WAVE solutions to rapidly develop at the scale needed to help fleet operators around the world meet their zero-emission goals."

To hear the audio production, investors can use the following link: https://www.nnw.fm/wcCAn

Ideanomics is focused on the convergence of financial services and industries experiencing technological disruption. It's Mobile Energy Global (MEG) division is a service provider, which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under its sales-to-financing-to-charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions and services across the financial services industry.

The company is headquartered in New York, with offices in Beijing, Hangzhou, and Qingdao, and operations in the US, China, Ukraine, and Malaysia.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

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Quick facts: Ideanomics Inc

Price: 3.18 USD

Market: NASDAQ
Market Cap: $883.33 m

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Ideanomics (NASDAQ:IDEX) (FRA:0V5) CEO Alf Poor together with Timios Holdings Corp CEO Raymond Davison tell Proactive Ideanomics will acquire 100% of privately held Timios Holdings Corp in an all-cash deal. Poor says that Timios, a nationwide title and settlement solutions provider, has been...

on 11/13/2020

3 min read