Santa Ana-based CoreLogic Inc., a provider of data to real estate and mortgage companies that emerged from a June split of title insurer First American Corp., is selling two units for $265 million and plans to put the proceeds toward acquisitions.
CoreLogic is selling its employer services and litigation support units to Palo Alto-based private equity firm Symphony Technology Group LLC.
The units provide data, consulting and other services to law firms, banks and big and midsize companies,.
CoreLogic’s other units provide data and services to mortgage lenders, banks, employers, landlords and others.
The company said it is selling the units to focus on its other operations and to make acquisitions more in line with its core operations.
“These are valuable businesses with good growth potential, but we are determined that they do not have a long-term strategic fit,” CoreLogic Chief Executive Anand Nallathambi said.
Symphony Technology has another investment here. It is the majority owner of Santa Ana software maker MSC.Software Corp., which it bought for $372 million in 2009.
CoreLogic, the former data unit of First American, emerged as a public company earlier this year.
The split also created First American Financial Corp., which is made up of First American Corp.’s former title business.
