CoreLogic said Wednesday that its shareholders voted to approve the company’s acquisition by funds managed by Stone Point Capital and Insight Partners for $80 per share in cash.
“This is a significant milestone for CoreLogic and a very positive outcome for our shareholders. With their overwhelming support, we expect to be able to close the transaction during the second quarter,” said CoreLogic Chairman Paul Folino.
“Stone Point is excited to work with the CoreLogic leadership team to support the company’s next phase of growth. CoreLogic’s data and software platforms help power the housing and insurance industries, both of which are undergoing a digital transformation. We believe our financial services domain expertise and partnership can accelerate CoreLogic’s momentum as it delivers new innovative solutions to its customers,” said Chuck Davis, CEO of Stone Point Capital.
“CoreLogic is a market leader with a long history of serving customers with powerful data technology and a future vision to innovate across the real estate ecosystem. We are excited that we are one step closer to supporting CoreLogic in its next chapter of transformational growth,” added Deven Parekh, Managing Director at Insight Partners.
The completion of the transaction remains subject to regulatory approval and customary closing conditions, said CoreLogic in a statement.
Evercore is serving as financial advisor to CoreLogic and Skadden, Arps, Slate, Meagher & Flom LLP is serving as the Company’s legal advisor.