TORONTO—Canada’s Real Matters, a software provider servicing the North American real estate appraisal market, is in talks to acquire Linear Title & Closing for about $100 million, according to a person familiar with the matter.

The planned deal is part of Real Matters’ effort to broaden its offerings, using technology, to help the residential and commercial real estate sector make the process of buying and selling properties more efficient.

It also comes as Real Matters recently raised 74 million Canadian dollars ($57 million) from a group of investors in a deal that valued the company at about C$600 million, according to the person familiar with the matter.

Real Matters along with other Canadian technology companies such as Vision Critical Communications Inc. and Hootsuite Media Inc. is often cited as a likely technology candidate for an initial public offering when market conditions improve. Linear could help in that effort by generating new sources of revenue to fuel growth.

The Linear transaction is expected to be announced in the coming days. Real Matters’ plans for an acquisition had been previously reported but the target had never been identified.

Representatives for Real Matters and Linear couldn’t immediately be reached for comment.

Real Matters is mainly known for the residential and commercial real estate valuation services it provides to lenders in Canada and the U.S. It works with an existing network of more than 33,500 independent appraisers and insurance inspectors, and says that it counts more than half of the biggest mortgage lenders in the U.S. among its customers

The acquisition of Linear, which is based in Middletown, R.I., allows Real Matters to expand into the area of providing property title searches and related services.

To distinguish itself from the competition, Real Matters, which was founded in 2004, has developed cloud-based software that accumulates performance data in real-time to rank appraisers against their rivals in a particular region to help lenders more easily identify the best-qualified appraiser for a particular job. The company is expected to apply its technology to help better manage Linear’s operations and use its lender relationships to generate additional title-search business.

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