Dominion Leasing Software Acquires Assets of Seritus Solutions

Dominion Leasing Software acquired the assets of Seritus Solutions, a provider of credit origination software and services. Seritus’ flagship product, Seritus-COS, provides a 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.

“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,” Clinton Dunlow, president and CEO of Dominion, said. “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,” Charles Lyles, partner of Seritus Solutions, said. “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.”

Closing of this transaction occurred on June 30, 2018 with final transition of all sales and servicing scheduled to occur by December 31, 2018.

Dominion Leasing Software is a provider of software solutions and services to the equipment finance industry throughout the U.S. and Canada.

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