CoreLogic, a provider of property information, analytics, and services, has agreed to acquire Marshall & Swift/Boeckh (MSB) and two other data-related businesses from TPG Capital for $661 million. TPG has owned MSB since 2011.
In addition to buying MSB, which provides building cost information, residential and commercial analytics and business management services for insurance companies, CoreLogic takes on DataQuick Information Systems, which supplies real estate data and analytics to mortgage originators and servicers.
CoreLogic intends to integrate MSB and DataQuick analytics into its wider data and analytics segment, which counts a number of insurance company customers. DataQuick also provides flood zone determination and credit servicing operations that will be integrated into CoreLogic's Mortgage Origination Services segment.
"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. "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."
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio