DataQuick to be acquired by CoreLogic
(THE REAL DAILY) – Nearly a year ago, the gears began turning on the $661 million acquisition by CoreLogic of DataQuick and Marshall & Swift/Boeckh from the Decision Insight Information Group, set to close in the final quarter of 2013, until the Federal Trade Commission (FTC) stepped in with concerns that the acquisition would reduce competition in the real estate information market.
The FTC alleged that the combination of CoreLogic and DataQuick’s national assessor and recorder bulk data businesses would increase the risk of anti-competitive coordination between the only two remaining market participants, with Black Knight Data & Analytics (formerly Lender Processing Services (LPS)) being the second half of what would have been the new duopoly had the FTC not gotten involved.
The initial complaint was filed with the FTC in January, the Commission interviewed the complainant and gathered information on the case, ultimately creating a proposed settlement order which lists required remedies CoreLogic would need to satisfy, namely that their national assessor and recorder bulk data (and other DataQuick data) must be re-licensed to Renwood RealtyTrac LLC for a minimum of five years, effectively creating a third competitor in the market…
