Dolan Sells NDeX South Business; To Sell NDeX Indiana Business - Quick Facts

(RTTNews) - Dolan Co. (DM), a provider of professional services and business information to the legal, financial and real estate sectors in the United States, announced Tuesday that it sold the assets of its NDeX South business to the law firm affiliates of that business.

Buyers of NDeX South include the law firms Barrett Daffin Frappier Turner & Engel, LLP; Barrett Daffin Frappier Levine & Block, LLP; and Barrett Daffin Frappier Treder & Weiss, LLP. NDeX South has provided back office and support services to these mortgage default law firms and their clients in Texas, California, Georgia and Nevada.

In addition, the company said it has reached an agreement in principle to sell its NDeX Indiana business to its Indiana law firm affiliate. The intended buyer of NDeX Indiana is the law firm Feiwell & Hannoy, PC. NDeX Indiana provides back office and support services to this mortgage default law firm and their clients in Indiana.

The NDeX Indiana transaction is subject to completion of definitive agreements and satisfaction of any closing conditions in those agreements.

The NDeX South transaction, which closed yesterday, and the proposed NDeX Indiana transaction together provide for approximate total consideration of $17.5 million, including certain cash at closing, with the majority of payments to come within the next three years.