Mr. Cooper to receive equity stake in Sagent in intellectual property deal 07:24 COOP Mr. Cooper and Sagent announced the execution of a definitive agreement under which Sagent will buy certain intellectual property rights related to Mr. Cooper's proprietary, cloud-based technology platform for mortgage servicing, and Mr. Cooper will receive an equity stake in Sagent. Mr. Cooper will also become a multi-year customer of Sagent. Under the terms of the transaction, Mr. Cooper will receive a minority equity stake in Sagent, and Jay Bray as well as Chris Marshall, vice chairman and president of Mr. Cooper Group, will join Sagent's board. Additionally, Sridhar Sharma, chief information officer of Mr. Cooper Group, will be appointed senior technology advisor to Sagent's board.
