Ideanomics (NASDAQ: IDEX) announced that it has completed its previously announced acquisition of privately held Timios Holdings Corp. (“Timios”), a nationwide title and settlement solutions provider.
CEO Raymond B. Davison and President Joseph Montag will continue to lead Timios, and the company will retain its current leadership, personnel, branding, and culture and operate as an entity within the Ideanomics Capital division.
Timios currently has 285 employees and operations in 44 states, and has booked over $60 million in YTD revenues, including over $8 million in October 2020.
Timios combines difficult to obtain licenses, a knowledgeable and experienced team, and a scalable solutions platform to deliver best-in-class service through both centralized processing and a localized branch network. Timios has introduced significant product and service level improvements, becoming an innovator in the real estate title and escrow services industries – markets poised for technology disruption. Ideanomics will assist Timios in scaling its business in various ways, including referring client acquisition and product innovation.