CoreLogic has announced that it is selling its Employer Services and Litigation Support businesses. The businesses will be acquired by Symphony Technology Group (STG) and will operate under the brand name First Advantage. CoreLogic will retain the remaining businesses that had been part of the former First Advantage Corp. that were acquired in November 2009.
In August, CoreLogic announced its intention to pursue the sale of these businesses, and the execution of an agreement with STG is the culmination of that process. The sale price of $265 million is an all-cash transaction.
‘These are valuable businesses with good growth potential, but we determined that they do not have a long-term strategic fit within CoreLogic," states Anand Nallathambi, president and CEO of CoreLogic.Â
SOURCE: CoreLogic
