NEW YORK, June 9, 2014: Moody's Analytics, a unit of Moody's Corporation, announced today that it has agreed to acquire Omaha, Neb.-based WebEquity Solutions, LLC, a leading provider of cloud-based loan origination solutions for financial institutions. Transaction terms were not disclosed. The acquisition is expected to close in the third quarter.
WebEquity's hosted platform is used by more than 750 banks and credit unions to originate and manage agriculture, commercial & industrial, commercial real-estate, small business, construction, and land development loans.
Morgan Lewis served as Moody’s legal adviser on the transaction led by Business and Finance Practice Partner Robert Dickey and including associates Danielle Davis, Jessica Berkey and JiWon Park. Also assisting on the transaction were Intellectual Property Practice partner Ron Dreben, Tax Practice partner Richard Zarin, Employee Benefits and Executive Compensation Practice partner Craig Bitman and Real Estate Practice of counsel Kathleen Martin.
For further information about the transaction, please see the Moody’s press release.