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Press Release for name change released 25th March |
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{{Outdated as of | year = 2025 | month = 03 | day = 25 | last updated = 5 April, 2025 | |topic= Rebranding}}
{{short description|American business data company}}
{{Advert|date=November 2021}}
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| key_people = Patrick Dodd, President and CEO
| products = Financial, property and consumer information, analytics and business intelligence
| revenue = {{ubl|{{nowrap|{{decrease}} US$1.762 billion (2019)<ref name=2019-10k>{{cite web|url=https://last10k.com/sec-filings/clgx#link_fullReport
| {{nowrap|{{decrease}} US$1.788 billion (2018)<ref name=2019-10k/>}}}}
| operating_income = {{ubl|{{nowrap|{{decrease}} US$165.54 million (2019)<ref name=2019-10k/>}}
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'''CoreLogic, Inc.''' is an [[Irvine, CA|Irvine]]
==History==
CoreLogic dates back to September 1991, when [[TRW Inc.|TRW]] Real Estate Information Services entered into a partnership with three real estate information service units from Elsevier, the Dutch Publishing company now known as [[Reed Elsevier]].<ref>{{cite web |url=https://
In September 1996, the group, then known as TRW Information Systems & Services, split away from
In September 1997, majority ownership of Experian's real estate information business was acquired by [[First American Corporation|The First American Corporation]], in a partnership with Experian.<ref>{{cite web |url=https://
Also in 1997, Kraig Clark and Steve Schroeder co-founded C&S Marketing in [[Sacramento, California|Sacramento, CA]].<ref>{{cite web |url=http://www.bizjournals.com/sacramento/print-edition/2013/10/18/corelogic-vets-auqeo-tech-support-vets.html?page=all |title=CoreLogic vets' new firm, Auqeo, provides sales support for tech startups |publisher=bizjournals.com |date=2013-10-18 |accessdate=2015-05-09 |archive-date=2015-05-18 |archive-url=https://web.archive.org/web/20150518120521/http://www.bizjournals.com/sacramento/print-edition/2013/10/18/corelogic-vets-auqeo-tech-support-vets.html?page=all |url-status=live }}</ref> Created to provide [[fraud prevention]] and collateral [[risk management]] solutions to the mortgage banking industry, the company was later renamed as CoreLogic Systems.
In October 2003, First American RES acquired Transamerica's property information business, combining
In March 2007, First American Corporation merged its First American RES subsidiary with CoreLogic Systems, under the FARES LLC subsidiary.<ref>{{cite web|url=https://www.questia.com/read/1G1-161610912 |title=First American RES Merges with CoreLogic |publisher= |date=2007-03-01 |accessdate=}}{{dl|date=July 2021}}</ref> The division began operating under the name First American CoreLogic.<ref name=spin1>{{cite web |url=http://www.bizjournals.com/sacramento/stories/2010/05/24/story10.html?page=all |title=Title company First American to spin off CoreLogic in June |publisher=bizjournals.com |date=2010-05-20 |accessdate=2015-05-09 |archive-date=2015-05-18 |archive-url=https://web.archive.org/web/20150518120516/http://www.bizjournals.com/sacramento/stories/2010/05/24/story10.html?page=all |url-status=live }}</ref>
In June 2010, CoreLogic, Inc. was established as a standalone business when The First American Corporation split its businesses to create two separate legal entities, CoreLogic, Inc and [[First American Corporation]] which provides title and financial services.<ref>{{cite web |url=http://www.housingwire.com/articles/first-american-completes-corelogic-spin |title=First American Completes CoreLogic Spin-Off |publisher=housingwire.com |date=2010-06-01 |accessdate=2015-05-09 |archive-date=2015-05-18 |archive-url=https://web.archive.org/web/20150518070041/http://www.housingwire.com/articles/first-american-completes-corelogic-spin |url-status=live }}</ref>
In January 2011, the company acquired Australia-RP Data, a provider of residential and commercial property information in Australia and New Zealand, for $194 million.<ref>{{cite web|url=http://www.theaustralian.com.au/business/corelogic-snaps-up-rp-data-for-1940m/story-e6frgak6-1225986215839 |title=CoreLogic snaps up property information provider RP Data for $194m |publisher=theaustralian.com.au |date=2011-01-12 |accessdate=2016-09-28}}</ref>
In March 2011, CoreLogic acquired Dorado Network Systems Corp, a San Mateo-CA based cloud application and architecture development company servicing the financial services industry.<ref>{{cite web |url=http://www.bizjournals.com/sanjose/news/2011/03/15/corelogic-buys-dorado-for-32m.html |title=CoreLogic buys Dorado for $32M |publisher=bizjournals.com |date=2011-05-15 |accessdate=2015-05-09 |archive-date=2011-08-18 |archive-url=https://web.archive.org/web/20110818003849/http://www.bizjournals.com/sanjose/news/2011/03/15/corelogic-buys-dorado-for-32m.html |url-status=live }}</ref>
In July 2011, the company sold its CoreLogic India operations to [[Cognizant]], for $50 million. As part of the transaction, the companies also announced a five year, $324 million services agreement.<ref>{{cite web |url=http://www.infoworld.com/article/2622485/m-a/cognizant-acquires-corelogic-s-india-services-operations.html |title=Cognizant acquires CoreLogic's India services operations |publisher=infoworld.com |date=2011-07-26 |accessdate=2016-09-28 |archive-date=2016-10-01 |archive-url=https://web.archive.org/web/20161001211634/http://www.infoworld.com/article/2622485/m-a/cognizant-acquires-corelogic-s-india-services-operations.html |url-status=live }}</ref>▼
In January 2013 CoreLogic bought Middletown, CT-based CDS Business mapping, a provider of geospatial hazard reports including distance to coast, [[flood zone]]s, rating territories, proximity to brush, [[wind pool|wind pull]] eligibility and [[earthquake]] information. CoreLogic reported it would integrate the business into its existing Spatial Solutions business.<ref>{{cite web |url=http://www.insurancejournal.com/news/east/2013/01/23/278439.htm |title=CoreLogic Buys CDS Business Mapping in Connecticut |publisher=insurancejournal.com |date=2013-01-23 |accessdate=2015-05-13 |archive-date=2016-03-04 |archive-url=https://web.archive.org/web/20160304093459/http://www.insurancejournal.com/news/east/2013/01/23/278439.htm |url-status=live }}</ref>▼
▲In July 2011, the company sold its CoreLogic India operations to [[Cognizant]], for $50 million. As part of the transaction, the companies also announced five year, $324 million services agreement.<ref>{{cite web|url=http://www.infoworld.com/article/2622485/m-a/cognizant-acquires-corelogic-s-india-services-operations.html |title=Cognizant acquires CoreLogic's India services operations |publisher=infoworld.com |date=2011-07-26 |accessdate=2016-09-28}}</ref>
In April 2013, CoreLogic bought Case-Schiller, the producers of the [[Case–Shiller index|Case-Shiller home price index]], known as one of the most important measures of the health of the housing market.<ref name=case-shiller>{{cite web |url=https://blogs.wsj.com/developments/2013/04/26/housing-data-dance-corelogic-buys-case-shiller/ |title=Housing Data Dance: CoreLogic Buys Case-Shiller |publisher=WSJ.com |date=2013-04-26 |accessdate=2015-05-22 |archive-date=2015-07-03 |archive-url=https://web.archive.org/web/20150703110453/http://blogs.wsj.com/developments/2013/04/26/housing-data-dance-corelogic-buys-case-shiller/ |url-status=live }}</ref>
▲In January 2013 CoreLogic bought Middletown, CT-based CDS Business mapping, a provider of geospatial hazard reports including distance to coast, [[flood zone]]s, rating territories, proximity to brush, [[wind pool]] eligibility and [[earthquake]] information. CoreLogic reported it would integrate the business into its existing Spatial Solutions business.<ref>{{cite web|url=http://www.insurancejournal.com/news/east/2013/01/23/278439.htm |title=CoreLogic Buys CDS Business Mapping in Connecticut |publisher=insurancejournal.com |date=2013-01-23 |accessdate=2015-05-13}}</ref>
In
In December 2013, CoreLogic subsidiary Property IQ is given permission by the NZ Commerce Commission to acquire Terralink International, merging both into CoreLogic NZ.
In March 2014, CoreLogic acquired Marshall & Swift/Boeckh, a Milwaukee, WI-based provider of building cost information, residential and commercial analytics and business management services, San Diego, CA-based DataQuick Information Systems, a property data and analytics information company, and the credit and flood services operations of DataQuick Lending Solutions.
In June 2014, CoreLogic expanded its hail, wind and lightning weather risk-management capabilities by acquiring Weather Fusion,<ref>{{cite web |url=http://geospatial-solutions.com/corelogic-expands-insurance-offerings-with-hail-wind-and-lightning-weather-forensics/ |title=CoreLogic Expands Insurance Offerings with Hail, Wind and Lightning Weather Forensics |publisher=geospatial-solutions.com |date=2014-06-05 |accessdate=2015-05-13 |archive-date=2015-04-26 |archive-url=https://web.archive.org/web/20150426030613/http://geospatial-solutions.com/corelogic-expands-insurance-offerings-with-hail-wind-and-lightning-weather-forensics/ |url-status=live }}</ref> formerly known as livehailmap.com.<ref>{{cite web |url=http://www.claimsjournal.com/news/national/2013/02/07/222609.htm |title=LiveHailMap.com is Now Weather Fusion |publisher=claimsjournal.com |date=2013-02-07 |accessdate=2015-05-13 |archive-date=2017-03-13 |archive-url=https://web.archive.org/web/20170313213917/http://www.claimsjournal.com/news/national/2013/02/07/222609.htm |url-status=live }}</ref>
In August 2015, the company purchased LandSafe Appraisal Services, an appraisal management company, from Bank of America for $122 million.<ref name=housingwire>{{cite web |url=http://www.housingwire.com/articles/35953-corelogic-buys-rels-from-wells-fargo |title=CoreLogic buys rest of RELS from Wells Fargo |publisher=housingwire.com |date=2016-01-05 |accessdate=2016-07-18 |archive-date=2016-07-26 |archive-url=https://web.archive.org/web/20160726003542/http://www.housingwire.com/articles/35953-corelogic-buys-rels-from-wells-fargo |url-status=live }}</ref>
In October 2015, CoreLogic acquired Australian construction data business Cordell from Europe media group [[RELX]], formerly known as Reed Elsevier.<ref>{{cite web |url=https://www.reuters.com/article/relx-disposal-idUSL5N1230FO20151005 |title=RELX agrees to sell Australian construction data unit-source |publisher=reuters.com |date=2015-10-05 |accessdate=2016-09-28 |archive-date=2016-10-02 |archive-url=https://web.archive.org/web/20161002100552/http://www.reuters.com/article/relx-disposal-idUSL5N1230FO20151005 |url-status=live }}</ref>
In December 2015, the company acquired [[FNC Inc.|FNC, Inc.]], another provider of real estate appraisal services, for $475 million.<ref name=housingwire/>
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In January 2016, CoreLogic announced it was paying $65M to acquire total ownership of RELS, LLC, a provider of property valuation and appraisal services it owned in partnership with [[Wells Fargo]].<ref name=housingwire/>
In March 2017, its CEO Nallathambi died shortly after taking medical leave from the company.<ref>{{cite web |url=http://www.ocregister.com/articles/corelogic-745582-nallathambi-company.html |title=CoreLogic CEO Nallathambi, on medical leave, has died |publisher=ocregister.com |date=2017-03-03 |accessdate=2017-03-10 |archive-date=2017-03-12 |archive-url=https://web.archive.org/web/20170312050642/http://www.ocregister.com/articles/corelogic-745582-nallathambi-company.html |url-status=live }}</ref> Shortly thereafter, the company announced Frank Martell as its new President and CEO.<ref>{{cite web |url=http://www.ocbj.com/news/2017/mar/06/corelogic-names-martell-new-ceo/ |title=CoreLogic Names Martell CEO |publisher=ocbj.com |date=2017-03-06 |accessdate=2017-03-10 |archive-date=2017-03-12 |archive-url=https://web.archive.org/web/20170312095152/http://www.ocbj.com/news/2017/mar/06/corelogic-names-martell-new-ceo/ |url-status=live }}</ref>
In April 2018, CoreLogic acquired "a la mode technologies, LLC", a real estate appraisal software company, for $120 million.{{Citation needed|date=September 2024}}
In May 2018, CoreLogic launched a non-weather-related fire and water risk solution.<ref>{{Cite web|url=http://dsnews.com/headline/05-25-2018/corelogic-launches-first-non-weather-related-risk-solution|title=CoreLogic Launches First Non-Weather-Related Risk Solution - DSNews|last=Ojha|first=Radhika|website=dsnews.com|date=25 May 2018|language=en-US|access-date=2018-06-20|archive-date=2018-06-20|archive-url=https://web.archive.org/web/20180620101324/http://dsnews.com/headline/05-25-2018/corelogic-launches-first-non-weather-related-risk-solution|url-status=live}}</ref>
In December 2018 CoreLogic purchased Symbility Solutions, Inc., a vendor of claims processing and estimating software based in Calgary, Alberta, Canada.<ref>{{cite news | title=Calgary claims vendor now owned by CoreLogic | author=Meckbach, Greg | date=December 19, 2018 | url=https://www.canadianunderwriter.ca/claims/calgary-claims-vendor-now-owned-by-corelogic-1004150025/ | work=Canadian Underwriter | access-date=December 2, 2020 | archive-date=March 4, 2021 | archive-url=https://web.archive.org/web/20210304161138/https://www.canadianunderwriter.ca/claims/calgary-claims-vendor-now-owned-by-corelogic-1004150025/ | url-status=live }}</ref>
In June 2020, Cannae Holdings and Senator Investment Group launched a hostile takeover of CoreLogic. In response to CoreLogic raising quarterly guidance five days before the end of Q2 and following up on "nine months performing extensive 'outside-in' due diligence", Cannae Holdings and Senaro Investment Group submitted their proposal to acquire CoreLogic. CoreLogic replied on June 26 that, despite not having previous knowledge of the offer, they will "carefully review the proposal" and "determine the course of action it believes is in the best interests of the Company and its shareholders" and insisting that "shareholders need take no action at this time".<ref>{{Cite web|url=https://picante.today/latest-news/2020/06/26/154302/corelogic-confirms-receipt-of-unsolicited-acquisition-proposal-from-cannae-holdings-and-senator-investment-group/|title=CoreLogic Confirms Receipt of Unsolicited Acquisition Proposal from Cannae Holdings and Senator Investment Group|website=picante.today|date=26 June 2020
In June 2021, the company was acquired by Stone Point Capital and [[Insight Partners]].
In September 2021, CoreLogic acquired Next Gear Solutions, LLC.<ref>{{Cite news |last=Adriano |first=Lyle |date=16 September 2021 |title=CoreLogic closes acquisition of digital workflow platform provider Next Gear Solutions |work=Insurance Business America |url=https://www.insurancebusinessmag.com/us/news/technology/corelogic-closes-acquisition-of-digital-workflow-platform-provider-next-gear-solutions-310284.aspx |access-date=15 December 2022 |archive-date=15 December 2022 |archive-url=https://web.archive.org/web/20221215211724/https://www.insurancebusinessmag.com/us/news/technology/corelogic-closes-acquisition-of-digital-workflow-platform-provider-next-gear-solutions-310284.aspx |url-status=live }}</ref>
==See also==
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== External links ==
* [https://www.corelogic.com/ CoreLogic USA (Headquarters)]
* [https://www.corelogic.com.au/ CoreLogic Australia]
* [https://www.corelogic.co.nz/ CoreLogic New Zealand]
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