CoreLogic Buys CDS Business Mapping

On Friday, housing data provider CoreLogic (NYSE: CLGX  ) confirmed that on December 14, 2012, it purchased underwriting services provider CDS Business Mapping, LLC for $78 million.

CDS provides information on "property-specific geographic hazards" to 700 insurance providers, agents, and brokers -- including data on distances from coastlines, flood zones, earthquake data, and so on. CoreLogic said in a statement that acquiring CDS will complement its own services, and enhance its ability to supply property data and analytics to the property and casualty insurance, real estate, telecommunications, public utility, and oil and gas industries, and also to government agencies.

CoreLogic shares were unchanged on the news, and currently trade at the same price that it closed at yesterday, $27.80.


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