Prime Ecosystem Acquired by CoreLogic to Expand Contractor Solutions Globally
Deal News | Jan 06, 2025 | EIN
CoreLogic, a global leader in property insights and data-driven solutions, has acquired Prime Ecosystem, an Australian firm specializing in contractor management technology. The acquisition aims to scale the capabilities of Prime Ecosystem from its stronghold in Australia to international markets, initially launching in the UK. The new product, CoreLogic Contractor Workspace, will offer advanced tools for managing job lifecycles, communication, and compliance. This acquisition not only underscores CoreLogic's commitment to expanding its market footprint but also highlights its strategic move to offer a full-suite solution that enhances operational efficiency for contractors globally. The integration of Prime Ecosystem's technology will leverage CoreLogic’s established property insurance market experience to provide an innovative contractor management platform, driving intelligent growth and streamlined workflows.
Sectors
- Property Technology
- Construction and Restoration
- Insurance Technology
Geography
- Australia – Prime Ecosystem is based in Australia and has established a strong presence there.
- United Kingdom – CoreLogic intends to expand Prime Ecosystem's solutions into the UK market as a part of its international growth strategy.
- United States – CoreLogic is headquartered in the United States, making it a significant player in North American markets.
Industry
- Property Technology – CoreLogic is a major player in property information and analytics, integrating Prime Ecosystem's technology to enhance contractor solutions.
- Construction and Restoration – Prime Ecosystem provides specialized contractor management platforms for construction and restoration sectors, now being expanded internationally with CoreLogic.
- Insurance Technology – The acquisition targets improvements in operational efficiency in the property insurance market where CoreLogic has deep expertise.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CoreLogic | Acquirer | Company | A global leader in property information and analytics based in Irvine, California, expanding into contractor management. |
| Prime Ecosystem | Target Company | Company | An Australian technology firm specializing in construction, restoration, and maintenance management platforms. |
| Paul Brandis | Managing Director and Co-founder | People | Co-founder of Prime Ecosystem, involved in the strategic move with CoreLogic. |
| Michael Porter | Senior Vice President | People | Senior Vice President of International Insurance Solutions at CoreLogic, commenting on the acquisition. |