Accounting and advisory firm Richey May grew its technology offerings last year when it rolled out new cybersecurity services.
And now, the company is set to expand its tech offerings even further, as it announced Thursday that it acquired Amata Solutions, a provider of planning and business intelligence tools for mortgage lenders.
According to Richey May, the company initially invested in Amata Solutions a few months ago and began offering the company’s services to its clients, but Ken Richey, co-founder and partner of Richey May, said the company did not know how much demand there would be for Amata’s offerings.
“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,” May said. “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.”
Amata Solutions provides planning, forecasting and business intelligence tools for lenders, and now the company will operate as part of Richey May Technology Solutions, the company’s consulting division, which launched last year.
As part of the deal, Benjamin Duke, Amata Solutions’ founder, has assumed the role of executive director of data analytics with Richey May Technology Solutions. In this role, Duke will be responsible for developing and delivering business analytics solutions for mortgage lending clients.
“Since partnering with Richey May, we have been busier than ever,” Duke said.
“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,” Duke added. “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.”
Financial terms of the deal were not disclosed.