Toronto Company to Acquire Solimar.net

Solimar.net, a Tustin company that provides residential property valuation services to businesses, said that it has agreed to be acquired by a Toronto firm for $24 million in cash. Basis 100 Inc., an Internet-based e-commerce financial services provider, will operate Solimar.net as a wholly owned subsidiary. Solimar.net, founded in 1979 by Larry Hudack, its chief executive, has a dozen employees who are expected to continue working out of the Tustin of headquarters. The deal is expected to close Feb. 8.