Microventure Corp., an Irvine seller of office...

Microventure Corp., an Irvine seller of office systems for real estate brokerages, said Monday that it has merged with Dallas-based AFN Inc., the supplier of the Rennie Mae mortgage origination and information system.

The stock-for-stock exchange, valued by the companies at $15 million, took effect Aug. 1. The new company is called AFN and is based in Microventure’s Irvine headquarters. The Microventure name is being phased out, said Michael Barron, Microventure’s chief executive.

Barron and AFN Chairman John Pembroke are serving as co-chairmen of the new concern.

Microventure’s software system, called SOLD, was chosen by IBM as its add-on to computers and other products sold to the real estate industry. Microventure has been distributing IBM products equipped with SOLD. AFN’s Rennie Mae is the official system of the National Assn. of Realtors.

“This merger is a natural fit,” Pembroke said. “It provides both AFN and Microventure with expanded product lines and a substantial broadening of existing customer relationships and of internal research and development capabilities.”