Mercury Network, the mortgage lender and appraisal management company software unit of a la mode, was acquired by private equity firm Serent Capital, the companies announced Thursday.

The transaction creates two separate companies: Mercury Network, which develops software for mortgage lenders and AMCs; and a la mode, which retains its software offerings for appraisers, mortgage brokers and real estate agents. The acquisition price for the all-cash carve-out was not disclosed.

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