Property information and analytics provider CoreLogic has reported that its revenue increased by 14% to $1.642 billion for 2020, driven by housing market activity and share gains, operating leverage and cost savings.
And revenues were up approximately 20% when normalizing for $69 million of revenues attributable to non-core default technology units sold and the AMC transformation, and impacts from COVID-19 of $19 million.
Results were boosted by a 33% increase in revenues for the Q4 period, which came to $468 million.
For the last quarter, PIRM segment organic growth totaled 7%, benefiting from double-digit growth in property insights and international. UWS revenues grew 51% on strong market volumes and market outperformance in tax and flood zone solutions, credit solutions and valuations platforms.
Strong share gains, including large wins in both segments, drove 2020 full-year organic revenue growth to approximately 8%, CoreLogic explained.
Core mortgage market performance in tax and flood zone solutions and double-digit growth in credit solutions and valuations platforms also helped to lift the firm’s performance.
Last month, CoreLogic accepted an acquisition offer from private equity firms Stone Point Capital and Insight Partners, following a months-long battle with investors Senator and Cannae, who attempted to pressure CoreLogic into accepting a lower offer.
But now, CoStar Group has put forward a new offer that is under review by CoreLogic and could be seen as offering more value to shareholders.
