WASHINGTON CoreLogic has acquired Case-Shiller from Fiserv for $6 million, taking over its prestigious index business in a deal that closed on March 20, CoreLogic said in a statement on Thursday.
The Case-Shiller Indexes will be renamed the CoreLogic Case-Shiller Indexes, the statement said. Still, the S&P/Case-Shiller home price index, closely watched by financial markets to get a sense of the strength of the U.S. housing market, will retain its name.
CoreLogic, based in Irvine, California, is responsible for a wide variety of housing reports, including data on prices, mortgage payments and the number of homeowners that are so-called "under-water," or owe more than their property is worth.
The S&P/Case-Shiller home price index will continue to be published and distributed on their customary time schedules and in their current formats, according to CoreLogic.
The deal "underscores CoreLogic's ongoing commitment to provide comprehensive data, analytics and services to financial services, government and real estate professionals," the company said in its first quarter financial results, which were released on Wednesday.
(Reporting by Margaret Chadbourn; Additional reporting by Edward Krudy in New York; Editing by Chizu Nomiyama)