CoreLogic Making Moves in India and U.S.

CoreLogic's international operations are making news in India, with the announcement that ""Cognizant"":http://www.cognizant.com/ will buy CoreLogic Global Services Pvt. Ltd. for a reported $50 million. The acquisition of CoreLogic Global, better known as ""CoreLogic India"":http://www.corelogic.in/, will likely make Cognizant the third largest information technology services entity in the country, ousting ""Wipro Ltd."":http://www.wipro.com/ from its current third place ranking.

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CoreLogic's sale of its Indian base will encompass its captive operations, and the deal is also said to include alterations to the company's working capital and credit structure. Cognizant and CoreLogic will conclude the deal in August.

Cognizant will contribute $324 million in revenue along with any inflation adjustments necessary over a five year period, and the company also has a variety of options for renewal and extension within the agreement.

The goal of the global acquisition, according to a joint statement from the entities, is to enhance end-to-end processing and analytics initiatives throughout the mortgage vertical via management platforms related to originations, closing services, the secondary market, administration, and default measures.

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Around 4,000 people are employed by CoreLogic India, which was founded in 1994, and it's expected that the current employee base will remain with Cognizant following the closure of the deal.

Commenting on the acquisition, Cognizant's president and CEO, Francisco D'Souza, said, ""CoreLogic India's capabilities in domain-centric back-office services, software, product development, and analytical modeling, combined with Cognizant's domain-aligned technology and business process expertise will create greater value for our mutual financial services clients and enable the deliver of sophisticated analytics and next-generation business process solutions to the market.""

Elsewhere in the CoreLogic empire, which boasts more than 10,000 staff members worldwide and revenues of $1.6 billion as of 2010, the company announced a merger with ""FICO"":http://www.myfico.com/ that is set to help lenders identify and prevent fraudulent mortgage activity.

The collaboration will combine FICO's Origination Manager 4.0 system with CoreLogic's LoanSafe fraud platform to provide advanced systems and management abilities targeting obscured risks.

Lenders using the new program will benefit from a high level of customization including the ability to tailor the alert system, alter fraud detection methods to their specific needs, and craft preferred methods for analysts to utilize when examining paperwork.

CoreLogic is based in Santa Ana, California, and the company has a mortgage and real estate data base the covers over 80 percent of the U.S. originations market and 99 percent of the U.S. residential real estate market, according to recent company statements.