Santa Ana-based CoreLogic Inc., a provider of data to real estate and mortgage companies, has agreed to buy the 60% stake in an Australian property information company it doesn’t already own for about $190 million.
CoreLogic said on Tuesday it is looking to buy the outstanding shares of RP Data Ltd., which provides residential and commercial property information in its home country as well as in New Zealand.
CoreLogic had acquired 40% of the company’s shares in the past four years, at stock prices roughly 50% below what the company’s offering today, it said.
The proposed deal consists of CoreLogic buying about $146 million of RP Data’s outstanding shares and the assumption of about $44 million in debt.
The transaction is expected to close in the second quarter.
CoreLogic, which emerged from a June split of title insurer First American Corp., last month agreed to sell its employer-services and litigation-support businesses to Palo Alto private-equity firm Symphony Technology Group LLC for $265 million.
At that time, CoreLogic, which counts a market value of about $2.3 billion, said it intended to use the proceeds from that sale for acquisitions.
