CoreLogic Buys CDS Business Mapping

On Friday, housing data provider CoreLogic confirmed that on December 14, 2012, it purchased underwriting services provider CDS Business Mapping, LLC for $78 million.

CDS provides information on "property-specific geographic hazards" to 700 insurance providers, agents, and brokers -- including data on distances from coastlines, flood zones, earthquake data, and so on. CoreLogic said in a statement that acquiring CDS will complement its own services, and enhance its ability to supply property data and analytics to the property and casualty insurance, real estate, telecommunications, public utility, and oil and gas industries, and also to government agencies.

CoreLogic shares were unchanged on the news, and currently trade at the same price that it closed at yesterday, $27.80.

The article CoreLogic Buys CDS Business Mapping originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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