Canadian Firm Buys Irvine’s Solimar.Net

A Canadian company on Wednesday completed its $24-million acquisition of Solimar.Net, a privately held Irvine e-commerce provider of residential property valuation services.

Basis 100 Inc. in Toronto, which offers e-commerce services to financial institutions, plans to use Solimar as a way to enter the U.S. market for business-to-business e-commerce services.

Solimar.Net will carry on operations as a wholly owned subsidiary.