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FDN Database Reference: F231109-356
Acquirer: The First American Corporation
ACQ Web: http://www.firstam.com
Location: USA, Santa Ana, CA
Region: North America
Description: A FORTUNE 500® company that traces its history to 1889. With total revenues of approximately $6.0 billion in 2009, it is America’s largest provider of business information. The company operates within five primary business segments, Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions.
Category: Property. Market Data
Contact 1: Parker S. Kennedy, Chairman and Chief Executive Officer
Contact 2: Dennis J. Gilmore, Executive Vice President, Chief Executive Officer of First American’s Financial Services Company
Contact 3: Anand Nallathambi, Executive Vice President, President, Chief Operating Officer of First American’s Information Solutions Company
Contact 4: George Livermore, President, Data and Analytic Solutions Segment
Contact 5: Anthony “Buddy” Piszel, Chief Financial Officer and Treasurer
Vendor: First American CoreLogic
Vendor Web: http://www.facorelogic.com
Description: U.S. provider of real estate, property, ownership, fraud, mortgage, and mortgage securities data—and advanced analytics using this data—for the assessment of real estate sales, collateral valuation, home price trends, mortgage originations, mortgage- and asset-based securities pricing, foreclosures, delinquencies and asset dispositions.
Contact: Steve Schroeder, former CEO of CoreLogic and senior vice president of First American CoreLogic.
Aprox. Value: Undisclosed
Details: The First American Corporation (NYSE: FAF), America’s largest provider of business information, today announced that it has executed a letter of intent to acquire the minority ownership of First American CoreLogic.
The First American Corporation previously held an 82 percent ownership in the company. First American CoreLogic is a key component of the company’s Information Solutions Group, which will be separated from the company’s Financial Services Group upon the completion of the previously announced spin-off, targeted for June 1, 2010.
Link: Press Release