Breaking news, CoreLogic has finally found a buyer. Yesterday, we reported that CoStar had set to bid for the proptech company with $6.7 billion, but the competition is officially over.
Taking a bid of $6 billion, private equity firms Stone Point Capital and Insight Partners, have agreed to buy CoreLogic, beating out not only CoStar, but Warburg Pincus, which was bidding with a very tempting all-stock offer.
The sale price amounts to $80 a share, making it a 51% premium on CoreLogic’s stock price compared to June’s record.
CoreLogic competes with the biggest names in the North American market, including Zillow, Redfin, and Realtor.com. CoStar has been wedging itself into the real estate data sector, making CoreLogic an important asset to acquire.
CoStar has been building momentum when it comes to acquisitions, having recently bought out Homesnap.