India, June 10 -- Figure Technology Solutions, Inc. (FIGR), a financial technology company, on Wednesday announced a deal to acquire Kiavi, an AI-powered lending platform for residential real estate investors, for a total of $717 million.
The transaction includes the purchase of Kiavi's balance sheet assets by a joint venture of Figure and Sixth Street, an investment firm, which will buy loans off Kiavi's balance sheet.
Post transaction, the Kiavi platform will be high-margin and asset-light. Figure expects the acquisition to add to earnings per share of FIGR in less than four years.
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The acquisition will boost Figure's plans to modernize capital markets...