CoreLogic’s acquisition of DataQuick charges settled

The Federal Trade Commission has approved a final order settling charges that CoreLogic, Inc.’s $661 million acquisition of DataQuick Information Systems, Inc. from TPG VI Ontario 1 AIV L.P. was likely to harm competition in the market for national assessor and recorder bulk data.

According to the FTC’s complaint, first announced in March, the combination of CoreLogic’s and DataQuick’s national assessor and recorder bulk data businesses would eliminate one of only three providers of national assessor and recorder bulk data. The complaint alleges that the acquisition would increase the risk of anticompetitive coordination between the remaining two market participants and the risk of CoreLogic unilaterally exercising its market power to increase prices and reduce quality for customers.

To preserve competition that would be lost due to the acquisition, the FTC’s final order requires CoreLogic to license to Renwood RealtyTrac LLC national assessor and recorder bulk data as well as several ancillary data sets that DataQuick provides to its customers.

The Commission vote approving the final order and the responses to the public comments received [Letter To Commenter Nigro | Letter To Commenter Zillow] was 4-0-1, with Commissioner Terrell McSweeny not participating.