* Sells employer services, litigation support units
* PE firm Symphony Technology Group is the buyer
* To use proceeds to fund strategic acquisitions
Dec 23 CoreLogic Inc (CLGX.N), that provides
data to the real estate and mortgage sectors, agreed to sell
its employer services and litigation support units to private
equity firm Symphony Technology Group for $265 million in cash.
The company plans to use the proceeds from the sale to fund
acquisitions of businesses more in line with its core
"These are valuable businesses with good growth potential,
but we are determined that they do not have a long-term
strategic fit within CoreLogic," CoreLogic Chief Executive
Anand Nallathambi said in a statement.
Santa Ana, California-based CoreLogic, earlier a part of
financial services giant First American Corp, became an
independent publicly traded company in June 2010.
Macquarie Capital advised CoreLogic in the sale process.
CoreLogic shares, which have fallen 3 percent in the past
year, were up 2 percent at $18.95 on Thursday morning on the
New York Stock Exchange.
(Reporting by Tenzin Dekeva in Bangalore; Editing by Joyjeet