Radian Group (RDN) Completes $305M Clayton Holdings Acquisition

Radian Group (NYSE: RDN) has completed the acquisition of Clayton Holdings LLC. As previously disclosed, Radian Group paid aggregate cash consideration of $305 million, subject to customary purchase price adjustments, to purchase all of the outstanding equity interests in Clayton and to repay Clayton's outstanding debt.

“Today we welcome Clayton Holdings to our family. The mortgage solutions and capabilities they bring will help diversify our revenue stream and expand our core competencies, positioning Radian for new opportunities as the U.S. housing market evolves,” said Radian’s Chief Executive Officer S.A. Ibrahim. “The Clayton acquisition builds on Radian's strong heritage and experience in delivering innovative products and solutions that allow our customers to achieve their goals.”

Clayton has built its success providing outsourced mortgage solutions and is widely recognized as a leader in its industry. The acquisition will complement Radian’s existing mortgage-related products and services. This transaction is consistent with Radian’s growth and diversification strategy to pursue alternatives for providing mortgage risk-related products and services to the mortgage finance market.

"In addition to joining a market leader in the mortgage insurance industry that has a clear vision of the evolving needs of the U.S. housing market, we now have the opportunity to bring our mortgage solutions to Radian’s established and growing customer base,” said Clayton’s Chief Executive Officer Paul T. Bossidy.

Headquartered in Shelton, Connecticut, Clayton employs approximately 700 people. Clayton Chief Executive Officer Paul Bossidy, President and Chief Operating Officer Joseph D’Urso and the Clayton management team have built a strong, market-leading franchise in each of the mortgage services areas where they participate. As part of Radian, they will focus on serving their clients and growing their business, as well as exploring additional opportunities to offer new and existing services to Radian’s established customer base.

You May Also Be Interested In

• Progress Software Corporation (PRGS) Issues Statement on a Possible Offer for MariaDB
• Mondi Says It Does Not Intend To Make An Offer For DS Smith
• Cyngn Inc (CYN) CEO Issues Business Update