This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

CoreLogic Surges on $661 Million Real Estate Data Deal

NEW YORK ( TheDeal) - CoreLogic (CLGX - Get Report) surged Monday as the real estate data company said it would acquire three units of private equity-backed Decision Insight Information Group in a $661 million deal designed to boost the buyer's products for the property and casualty insurance industries.

Irvine, Calif.-based CoreLogic said it would acquire Marshall & Swift/Boeckh, DataQuick Information Systems and DataQuick Lender Solutions from Decision Insight. MSB is a provider of building cost and property valuation data, while DataQuick provides property data to the mortgage and insurance industry and flood services information. The units use proprietary data and algorithms to help clients estimate replacement and repair costs.

CoreLogic executives said that the deal would expand the company's insurance footprint and add to its portfolio of analytic tools.

"The combination of MSB and our existing geospatial business capabilities and property-related data assets allows CoreLogic to provide our clients in the insurance industry with new and unique insights into underwriting property coverage as well as managing natural hazard risks and claims," CEO Anand Nallathambi said in a statement.

Nallathambi said that the combination "should yield significant future growth opportunities through the introduction of new products, services and workflow tools which draw from a wide range of gold-standard data assets and analytical capabilities."

CoreLogic earlier this year said it had acquired CDS Business Mapping LLC, a maker of mapping software for underwriters, for $78 million. In April, it added the Case-Shiller home price index for $6 million.

Milwaukee-based Decision Insight is a portfolio company of TPG Capital, which in 2010 spent C$850 million ($807.9 million) to acquire the property information assets of MacDonald, Dettwiler and Associates Ltd.

Evercore Partners Inc.'s Saul Goodman, Jason Sobol, Jay Mirostaw, Justin Hirsch and Anisha Atluri acted as financial advisers to CoreLogic, with O'Melveny & Myers LLP serving as the company's legal adviser. Decision Insight was represented by Bank of America Merrill Lync h and Ropes & Gray LLP.

Written by Lou Whiteman in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
CLGX $34.00 0.00%
AAPL $124.48 0.19%
FB $83.61 0.72%
GOOG $555.17 0.00%
TSLA $190.40 0.00%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs