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LexisNexis announces acquisition of Korbitec
LexisNexis South Africa will be acquiring Korbitec (Pty) Ltd from the Naspers Group on 2 November 2015, following approval by the South African Competition Commission and the completion of all other outstanding conditions.
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Korbitec is a provider of content-enabled workflow solutions for South African property professionals, with two products, GhostConvey and Windeed, in addition to its banking and municipal services division.
GhostConvey is a conveyancing work-flow system that automates document assembly and correspondence associated with mortgage bond registrations, consents and property transfers.
Records search solution
WinDeed is a public records search solution used for property data search and retrieval, asset discovery and tracing, forensics and credit vetting. WinDeed will add to LexisNexis' public records search business, DeedSearch.
The acquisition will establish LexisNexis as the leader in conveyancing solutions in the South African legal market, where conveyancing law firms represent approximately 25% of the total market.
Korbitec has its head office in Cape Town and has a major presence in Johannesburg with smaller satellite offices in Durban, Port Elizabeth, Bloemfontein and East London. Korbitec has about 290 employees.
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