Tuesday, July 26, 2011

CoreLogic Divests Indian Operations

Santa Ana-based CoreLogic, a provider of financial and other information for the mortgage, automotive, property tax, and other areas, said today that it has sold off its India-based captive operations, CoreLogic Global Services Private Limited. The firm said it sold the unit for $50M in cash to Cognizant, a provider of information technology, consulting, and business process outsourcing services. The two said that as part of the deal, the two have agreed to a services agreement worth $325M over five years, where Cognizant will provide CoreLogic with a range of services. About 4,000 CoreLogic employees will be hired by Cognizant, the firms said.

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