Financial Advisor
LoanTek, Inc.
M&A Advisory
Has Been Acquired By
Transaction Details
- On June 1, 2015, Bankrate, Inc. (“RATE”), completed the acquisition of LoanTek, Inc. (“LoanTek”) for an undisclosed amount
- The purchase price was funded with cash on RATE’s balance sheet
- LoanTek offers mortgage providers dynamic real-time pricing technology through rate lock and preapproval features offered directly to consumers
- Key members of LoanTek management will join RATE
- Stephens Inc. served as exclusive financial advisor to LoanTek
About the company
LoanTek, Inc.
LoanTek, Inc. creates exclusive mortgage referrals using automated and consumer-facing pricing on strategic partner and lender websites. In addition to a mortgage pricing engine, LoanTek offers clients a consumer direct SaaS suite, including: lead management, CRM, email campaigns, telephony connect, mobile applications, analytics dashboard and a lock desk manager. LoanTek’s enterprise solutions are offered to mortgage companies, consumer direct divisions and loan originators.
Bankrate, Inc.
Bankrate, Inc. and its subsidiaries own and operate an internet-based consumer banking and personal finance network. Bankrate’s flagship website, Bankrate.com, is one of the Internet’s leading aggregators of information on more than 300 financial products and fees, including mortgages, deposits, insurance, credit cards, and other personal finance categories. Additionally, Bankrate provides financial applications and information to a network of distribution partners and through national and state publications.
Sources: Bankrate filings and Loantek information.
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