CORELOGIC HAS ACQUIRED MERCURY NETWORK FROM SERENT
Advisory Role: Krall & Co. Inc. initiated this transaction on behalf of Serent Capital.
Announcement Date: August 17, 2017
Buyer: CoreLogic is a provider of property information, analytics and data-enabled services.
Target: Mercury Network offers the Mercury Network platform, a SaaS appraisal vendor management platform, and related products, which help lenders and AMCs manage their entire appraisal workflow in compliance with appraisal independence standards and banking security regulations.
Seller: Serent is a San Francisco-based private equity firm that currently manages $600 million in committed equity capital.
Deal Rationale: The acquisition of Mercury Network supports CoreLogic’s plan to build its Valuation Solutions Group. Mercury Network is a fit with FNC, which Corelogic acquired in April 2015.
Terms: CoreLogic, which acquired a 45% passive minority stake in Mercury Network, LLC in June 2017, has acquired the remaining 55% ownership interest from Serent Capital. Terms were not disclosed.