CoreLogic to Acquire Marshall & Swift/Boeckh and DataQuick for $661M

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

Both MSB and DataQuick belong to the Decision Insight Information Group.

"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," says Anand Nallathambi, president and chief executive officer of CoreLogic, in a statement. "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." 

CoreLogic says MSB operations and DataQuick's data licensing and analytics units will be reported within the company's data and analytics segment. DataQuick's flood zone determination and credit servicing operations will be integrated into CoreLogic's Mortgage Origination Services segment.

The transaction is expected to close during the third quarter of 2013, and CoreLogic says it expects to realize cash tax benefits from certain acquired amortizable intellectual property, amortizable goodwill and net operating loss carry-forwards with an estimated present value of approximately $115 million.