Following a public comment period, 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. (FTC File No. 131-0199; the staff contact is Cathlin Tully, Bureau of Competition, 202-326-3644)
The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., N.W., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us on Twitter, and subscribe to press releases for the latest FTC news and resources.