CoreLogic says it has entered an agreement to acquire Marshall& Swift/Boeckh (MSB), which provides property valuationsolutions to the property and casualty industry, and property dataand analytics information company DataQuick Information Systems for$661 million.

Both MSB and DataQuick belong to the Decision InsightInformation Group.

"The acquisition of MSB and DataQuick significantly expands ourfootprint in property and casualty insurance and adds additionalscale to our existing property data and analytics business," saysAnand Nallathambi, president and chief executive officer ofCoreLogic, in a statement. "The combination of MSB and our existinggeo-spatial business capabilities and property-related data assetsallows CoreLogic to provide our clients in the insurance industrywith new and unique insights into underwriting property coverage aswell as managing natural hazard risks and claims." 

CoreLogic says MSB operations and DataQuick's data licensing andanalytics units will be reported within the company's data andanalytics segment. DataQuick's flood zone determination and creditservicing operations will be integrated into CoreLogic's MortgageOrigination Services segment.

The transaction is expected to close during the third quarter of2013, and CoreLogic says it expects to realize cash tax benefitsfrom certain acquired amortizable intellectual property,amortizable goodwill and net operating loss carry-forwards with anestimated present value of approximately $115million.