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CoreLogic Buys CDS Business Mapping

The $78 million purchase took place more than a month ago.

By Rich Smith – Jan 18, 2013 at 4:41PM EST

On Friday, housing data provider CoreLogic (CLGX +0.00%) 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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About the Author

Rich Smith
Rich Smith is a contributing Motley Fool defense and stock market analyst covering publicly traded and emerging companies in defense, space, aerospace, and other sectors. Prior to The Motley Fool, Rich practiced international corporate law for Clifford Chance in Russia, and for the Russian-Ukrainian Legal Group in Moscow, Kyiv, and Washington, D.C. He holds a bachelor’s degree in international relations from the College of William & Mary, a law degree from the University of Baltimore, and a language certification from the International Institute of Russian Language & Culture in Tver, Russian Federation. The Globe and Mail once featured him as “one of the best stock pickers since 2009.”
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Stocks Mentioned

CoreLogic Stock Quote
CoreLogic
NYSE: CLGX
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