The First American Corporation Announces New Corporate Name for Its Information Solutions Group
—CoreLogic to Trade on the New York Stock Exchange as CLGX—
April 28, 2010, SANTA ANA, Calif.
The First American Corporation (NYSE:FAF), America’s largest provider of business information, announced today that it has selected the name “CoreLogic” as the new corporate name for its Information Solutions Group.
As previously announced, First American will split its Information Solutions Group (CoreLogic) and Financial Services Group into two separate, publicly traded companies. The separation is targeted to close on June 1, 2010. CoreLogic will trade under the symbol CLGX.
At the time of the separation, First American Financial Corporation, which will hold the Financial Services Group, will adopt the “FAF” ticker symbol for trading on the New York Stock Exchange (NYSE).
“We selected the CoreLogic name from our current portfolio of brands as a unifying description of the broad data, analytics and business information services we provide to support the core processes of our customers,” said Anand Nallathambi, president and chief executive officer of CoreLogic.
The group of businesses that will come to market under the new CoreLogic brand is significantly larger and more diverse than the company that is known today as First American CoreLogic. The new CoreLogic encompasses more than 20 different business lines in the areas of data, analytics and outsourcing services, as well as the consumer credit and information companies that were acquired with First Advantage. CoreLogic is expected to be a $2 billion revenue company with more than 10,000 employees worldwide and is a market leader in the areas of data, analytics and business information services that reduce risk, enhance transparency and enable businesses and governments to make critical business decisions.
CoreLogic will unveil other elements of its new corporate identity on May 3, 2010, at www.corelogic.com. SALT, a San Francisco-based brand consulting firm, assisted First American in the CoreLogic name selection and creative brand development.
CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive and decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a leading provider of mortgage and automotive credit reporting, property tax information, valuation, flood determination and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly the information solutions group of The First American Corporation, CoreLogic will begin trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2.1 billion. For more information visit www.corelogic.com.
About First American
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With total revenues of approximately $6.0 billion in 2009, it is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Information and Outsourcing Solutions, Data and Analytic Solutions, and Risk Mitigation and Business Solutions. More information about the company and an archive of its press releases can be found at www.firstam.com.
Certain statements made in this press release, including those related to the consummation of the separation transaction and the structure and timing thereof , are “forward-looking statements.” These forward-looking statements may contain the words “intend,” “anticipate,” “expect,” “plan,” “predict,” “estimate,” “project,” “will be,” “will continue,” “will likely result” or other similar words and phrases. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include those described in the Part I, Item 1A of First American’s annual report on Form 10-K for the year ended Dec. 31, 2009. The forward-looking statements speak only as of the date they are made. Except as required by law, First American does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.