CoreLogic has acquired its competitor Case-Shiller, consolidating the residential intelligence market, the company announced in a release discussing its first quarter financial results.
The deal for Case-Shiller — which created the widely-cited Case-Shiller Index – closed March 20 for roughly $6 million.
“The acquisition underscores CoreLogic’s ongoing commitment to provide comprehensive data, analytics and services to financial services, government and real estate professionals,” CoreLogic’s CEO Anand Nallathambi said in the release.
The company also announced that operating income was up 22 percent year-over-year to $55.3 million. The increase was largely fueled by a revenue boost in the company’s mortgage origination services and data analytics businesses.