15 Aug 2022
Voxtur Analytics to buy US-based Blue Water Financial Technologies for $130.5 million
On August 12, 2022, Voxtur Analytics Corp. announced its U.S. subsidiary's decision to purchase all membership interests of Blue Water Financial Technologies Holding Company, LLC for approximately CAD 130.5M (USD$101M). Blue Water, which provides SaaS solutions for trading mortgage servicing rights (MSRs) and whole loans, significantly improves profitability and risk management for mortgage asset portfolios. This acquisition intends to enhance Voxtur's technological offerings in the secondary mortgage market. Founded in 2018, Blue Water had an impressive revenue compounded annual growth rate of 262% from 2019 to 2021 and recorded positive net income in both 2020 and 2021. The integration of Blue Water is expected to boost Voxtur's earnings and influence in the U.S. secondary market while solidifying its position as a leading technology provider in the North American mortgage sector. The deal’s total purchase price involves a mix of cash, common shares of Voxtur, and obligations under Blue Water's Long-Term Incentive Plans. The acquisition's completion is conditional upon various regulatory approvals, anticipated to finalize in the third quarter of 2022. Legal counsel for the transaction included Smith Hulsey & Busey LLP and Fasken Martineau DuMoulin LLP for Voxtur, and Sidley Austin LLP for Blue Water.