CoreLogic Inc To Acquire Marshall & Swift/Boeckh And DataQuick Information Systems For $661 Million

CoreLogic Inc announced that the Company has entered into a definitive agreement to acquire Marshall & Swift/Boeckh, a provider of residential and commercial property valuation solutions to the property and casualty insurance industry, DataQuick Information Systems, a property data and analytics information company, and the credit and flood services operations of DataQuick Lender Solutions from the Decision Insight Information Group (DIIG). The transaction is expected to close during the third quarter of 2013 and is subject to customary closing conditions and regulatory clearance. The purchase price of the transaction is $661 million. As a result of this transaction, CoreLogic 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. The acquisition is expected to be accretive to 2013 financial results excluding one-time reductions in acquired deferred revenue and other purchase accounting adjustments.