Almost all United States residents live in one of more than 147 million properties across the country. For individuals and families, being informed about their own homes is enough. But for businesses, it’s often important to have an overarching view of the national residential property landscape.
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Irvine-based CoreLogic provides data and analytics regarding residential properties in the US, Australia and New Zealand. Today, the company announced its acquisition of Marshall & Swift/Boeckh (MSB) and DataQuick Information Systems for a total of $661 million. The former serves the property and casualty insurance industry with cost solutions, while the latter offers a variety of real estate-related data and analytics.
“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,” said Anand Nallathambi, President and Chief Executive Officer of CoreLogic, in a statement. “In addition to the obvious financial benefits and cost synergies, the combination of CoreLogic, MSB and DataQuick 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.”
Nallathambi believes the insurance companies that are his clients will benefit from the addition of MSB. Combined with CoreLogic’s existing geo-spatial capabilities, MSB will help “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.”
The acquisition is expected to close in the third quarter of 2013.
