CoreLogic, as part of its plan to concentrate on its real estate and mortgage information businesses, will sell its employer services and litigation support businesses to Symphony Technology Group.
Those businesses had been a part of First Advantage Corp. and will operate under that brand name after the deal closes.
The sales price is $265 million cash. Macquarie Capital advised CoreLogic in the sale process.
"The successful sale of these businesses represents a significant milestone for CoreLogic," said Anand Nallathambi, president and chief executive of CoreLogic. "These are valuable businesses with good growth potential, but we determined that they do not have a long-term strategic fit within CoreLogic. We expect to redeploy cash received from this transaction towards acquisitions of businesses with greater strategic relevance to fortify our market presence and leadership."
