Listed conveyancing IT tech startup acquires conveyancing firm as test bed

A stock-exchange listed provider of conveyancing IT has brought a property law firm – to help it test innovations in real transactions.

ULS Technology said the acquisition of Bolton-based Amity Law will ‘help it to build, pilot and evolve new digital products in a live environment, providing the company with valuable insight to shape future services and experiences and refine them prior to rolling out nationally’.

Amity, an alternative business structure regulated by the Council for Licensed Conveyancers, has been voted ‘most loved conveyancer’ on multiple occasions. Director Jayne Hart will join ULS.

Hart said:

“We’re really looking forward to marrying our extensive conveyancing knowledge with ULS’s digital expertise to help the industry develop and deliver a more seamless service to clients.”

Jesper With-Fogstrup, ULS chief executive, said:

“There is nothing better than working with customers directly developing products that truly make a difference.”

The firm’s presence would help build “a more efficient and slicker process for consumers and conveyancers.”

With-Fogstrup added:

“This is the next step in our journey to revolutionise the home buying and selling experience for everyone involved by using technology to radically change processes currently in place.

“Having Amity Law central to that development will allow for faster insights, better feedback, improved accuracy and helps us launch products quicker to market.”

The parties did put a price on the acquisition. ULS announced that “the consideration is not-material and does not require disclosure under the [alternative investment market] rules for companies.”

ULS Technology plc shares rose slightly on the announcement, to 72.3p.


Kindly shared by The Law Society Gazette

Main photo courtesy of Pixabay