PALO ALTO, CA--(Marketwire - December 23, 2010) - Symphony Technology Group (STG), a leading private equity firm focused on investing in software and technology enabled services companies, today announced it has acquired First Advantage from CoreLogic for $265M in an all cash transaction. First Advantage is a leading global provider of technology-enabled outsourcing and analytic solutions for the human capital and legal markets.
"First Advantage has a long history of providing a comprehensive suite of solutions to customers in its core markets," said Bill Chisholm, Managing Director with STG. "We are delighted to partner with the management team to build a leading HR and legal information and technology enabled services company that will provide its clients with the industry's best customer experience."
First Advantage is a leading provider of talent acquisition solutions including employment background screening, occupational health services, applicant tracking systems, recruiting solutions, skills and behavioral assessments, and business tax consulting services. Through its unique combination of technology, data, and analytics, First Advantage provides its clients with a comprehensive suite of products and services designed to facilitate intelligent decision-making.
"The First Advantage businesses are valuable, with good growth potential, however we determined that they do not have a long-term strategic fit within CoreLogic," said Anand Nallathambi, president and CEO of CoreLogic. "We are confident that STG will build on existing success and take these businesses to an even higher level."
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building great software and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG's current portfolio consists of eight global companies. For more information, visit: www.symphonytg.com.
About CoreLogic
CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly, the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com.
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