CoreLogic Strikes $661M Deal for Marshall & Swift/Boeckh, DataQuick

CoreLogic Strikes $661M Deal for Marshall & Swift/Boeckh, DataQuick

BY: ESTHER CHO

CoreLogic announced an agreement Monday to buy Marshall & Swift/Boeckh (MSB) and DataQuick Information Systems from the Decision Insight Information Group (DIIG) for $661 million.

The transaction, which is expected to close during the third quarter of this year, will expand the Irvine, California-based company’s data and analytics segment.

MSB provides residential and commercial property valuation solutions to the property and casualty insurance industry, and DataQuick—with a database of over 120 million residential properties—supplies real estate data, analytics, and business solutions to the broader mortgage industry.

DataQuick services include customized analytical solutions, credit reporting, flood zone determination services, fraud monitoring, property valuation, and automated decision software.

“The acquisition of MSB and DataQuick significantly expands our footprint in property and casualty insurance and adds additional scale to our existing property data and analytics business. The combination of MSB and our existing geo-spatial 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,” said Anand Nallathambi, president and CEO of CoreLogic.

According to a company release, MSB operations and DataQuick’s data licensing and analytics units will be integrated into CoreLogic’s data and analytics segment, while DataQuick’s flood zone determination and credit servicing operations will be combined with the company’s mortgage origination and services segment.

“The acquisition of MSB and DataQuick is consistent with our strategic imperative of growing our D&A segment to over 50% of total CoreLogic revenues. These assets are high-margin; subscription-based business models that generate free cash flow conversion rates above CoreLogic standalone,” added Frank Martell, CFO of CoreLogic.

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