Wednesday, January 30, 2008
TVC Capital Buys Back Del Mar DataTrac
San Diego-based private equity firm TVC Capital said Wednesday that it has acquired Del Mar DataTrac from FiServ. Financial terms were not disclosed. Del Mar DataTrac provides back-office, lending software for automating the residential mortgage lending process. Del Mar DataTrac, which was known as Del Mar Database, was venture backed by TVC Capital before its purchase by FiServ in March of 2005. Jeb Spencer, Managing Partner of TVC Capital, was Del Mar's Executive Chairman from 2003 to 2005. According to Fiserv, the divestiture is part of an effort for the firm to focus on its core financial and insurance businesses. TVC Capital also said that Rob Katz has rejoined Del Mar to help lead the ownership transition; Katz was previously EVP of Sales and Marketing at the company.