Richmond's MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) plans to acquire TransUnion LLC's real estate division for an undisclosed sum.
The acquisition of the Wilmington, Delaware, operation will expand MDA's ability to provide collateral valuation, property search, mortgage credit and other real estate-related services in the U.S.
TransUnion's real estate division generates approximately US$130 million in annual revenue from a staff of roughly 450 employees. It will be integrated under the MDA brand.
The deal, which is subject to customary and regulatory approvals, is expected to close in 2008's first quarter.
In its preliminary annual results, MDA reported a 14.3% increase in annual revenue for the year ending December 31, 2007. Revenue rose to $1.2 billion compared with $1 billion in 2006. Net earnings were estimated to be $95 million for 2007 compared with $84 million in 2006.
The company plans to release full results March 26.
MDA's share price range during the past week: between $45.92 and $46.90; 52-week high: $53.82; 52-week low: $37.38.