Brentwood-based software firm Ncontracts has purchased a California tech company.
Terms of the deal for Laguna Hills, California-based QuestSoft Corporation were not disclosed in a news release.
"This is a tremendous combination for our customers,” Ncontracts CEO Michael Berman said in the release. “Together, Ncontracts and QuestSoft will help financial institutions and mortgage companies not only meet the increasing needs and complexities of today's regulatory environment but prepare them for the future.”
Ncontracts provides integrated risk-management services to the financial industry. It counts nearly 1,500 financial institutions as clients, located in all 50 states. “The combined company will have over 260 employees and more than 3,700 financial institutions and mortgage companies around the country,” according to the release.
"We're extremely excited to bring our company together with an industry leader like Ncontracts," said Leonard Ryan, founder and president of QuestSoft Corporation. "Bringing our capabilities and insights together with the leadership and reach of a company like Ncontracts is great news for our 2,700 customers around the country and the industry at large."
This is Ncontract’s second deal in the last six months. In August, the firm bought Johnson City-basedBanc Intranets. Ncontracts itselfwas boughtby San Francisco private equity firm Gryphon Investors at the start of last year.