CoreLogic has been in the middle of quite a bit of uncertainty. CoStar was aggressively pursuing them, so was Black Knight. There was a lot of anxiety among the employees at CoreLogic, understandably. And, CoreLogic’s team went mysteriously quiet over the last few weeks.
Today, we learned that Stone Point Capital acquired them for a whopping $6B. Stone Point owns LoneWolf which acquired CloudCMA (W+R Studios last month) and Ten-X (an auction company). Stone Point also owns a wide array of financial services technology.
As a reminder, CoreLogic operates one of the largest MLS software companies, is a key player in real estate and public records big data, even wholesaling their data to a competitor (by federal mandate), ATTOM Data.
With the stunning moves by CoStar and Zillow in the last couple of months, this is going to get really interesting. We’ll be keeping a close eye on Stone Capital’s next moves to assess their evolving strategy.
Notably, CoreLogic has been stuck the last few years, not advancing many of its initiatives with any velocity. Interesting though, LoneWolf, even with the acquisition of ZipLogix nearly two years ago, and now W+R Studios, also seems to be iterating slowly. Will the cash infusion change things or will it be business as usual for LoneWolf and Corelogic for the next few years as they try to figure out how to mesh it all together?
Here’s what Inman News had to say about it.
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