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CoreLogic Makes an Acqusition

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CoreLogic (NYSE: CLGX  ) is proceeding logically in terms of asset buys. The company announced it has signed an agreement to acquire a set of assets that compliment its core competencies. The seller is the privately held Decision Insight Information Group, and the price is $661 million.

That package includes Marshall & Swift/Boeckh, a company which CoreLogic describes as "a leading provider of residential and commercial property valuation solutions to the property and casualty insurance industry."

No. 2 is property data and analytics specialist DataQuick Information Systems, and the third acquisition is the credit and flood services operations of DataQuick Lender Solutions.

CoreLogic said it expects to realize cash tax benefits from the transaction totaling around $115 million. It anticipates the sale will be accretive to its fiscal 2013 results, and it will close during the company's Q3.

CoreLogic touted the complimentary aspects of its purchase. In the press release heralding the news, it quoted CEO Anand Nallathambi as saying that it "significantly expands our footprint in property and casualty insurance and adds additional scale to our existing property data and analytics business."

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9/27/2016 4:02 PM
CLGX $39.95 Down -0.14 -0.35%
CoreLogic CAPS Rating: *****