CMLS Financial Announces Acquisition of Delta 360

TORONTO, ONTARIO--(Marketwired - Aug. 11, 2016) - CMLS Financial Ltd. ("CMLS Financial"), one of Canada's largest independent mortgage services companies, is pleased to announce the successful acquisition of Delta 360 Inc. ("Delta 360") effective August 1, 2016.

Founded in 2005, Delta 360 is a Canadian-based technology provider focused on delivering superior mortgage and lending software solutions to the Canadian financial industry. Delta 360 provides users with essential consulting and custom-built technology solutions and strategies for infrastructure, development and project management for all types of lenders, nationwide.

Financial terms of the transaction have not been disclosed. Derek Cook and William Rudzitis, founding shareholders of Delta 360, will continue to lead the business.

"The Delta 360 suite has helped CMLS Financial efficiently and effectively deliver single family mortgage lending solutions for many years," says Chris Brossard, CEO of CMLS Financial. "We are keen to share our experience in commercial lending and securitization and committed to provide Delta 360 with the resources they need to help enhance and deliver their solutions to the Canadian market."

"CMLS Financial has been a leader in both the adoption and development of mortgage lending technologies. We are excited to join a group committed to continuously finding ways to utilize technology to improve the mortgage lending experience across a broad spectrum of business lines," added Derek Cook, President of Delta 360.

About CMLS Financial Ltd.

CMLS Financial is one of Canada's largest independently owned mortgage services companies, with offices across the country. Founded in 1974, the company provides a wide range of commercial lending services, residential mortgages, and institutional services. For more information about Canada's Mortgage Company™, visit www.cmls.ca.

About Delta 360 Inc.

Founded in 2005, Delta 360 is a Canadian-based technology provider focused on delivering superior mortgage and lending software solutions to the Canadian financial industry. For more information visit www.delta360.com.