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Dominion Leasing Software Acquires Assets of Seritus Solutions

August 14, 2018, 07:10 AM
Filed Under: Mergers & Acquisitions

Dominion Leasing Software LLC announced it has acquired the assets of Seritus Solutions LLC, a provider of credit origination software and services.

Seritus’ flagship product, Seritus-COS, provides an intelligent workflow process to automate the flow of lease and loan transactions through the credit adjudication process. It allows deals to be initiated in-house, by end customers or directly from the lessor’s dealer, vendor or broker network, and followed throughout the review, funding and post-closing lifecycle via a workflow tailored for each client’s unique needs.
“For nearly a decade, Dominion and Seritus have enjoyed an excellent working relationship, performing a number of joint implementations to provide our clients with the best-of-breed end-to-end solution,” said Clinton Dunlow, President and CEO of Virginia-based Dominion. “This acquisition is simply the evolution of that partnership, allowing Dominion to solidify the integration and to provide all customer services under our umbrella.”
“Seritus Solutions, utilizing our vast knowledge of the marketplace, created a state-of-art configurable credit origination system that has serviced the industry well over the last 10 years,” noted Charles Lyles, Partner of Seritus Solutions. “Having the opportunity to integrate multiple joint customers with Dominion, led us to the decision that now was the best time to transition our customers and products to Dominion, given their great reputation with their customers and the overall marketplace.”

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