CoreLogic Inc. has agreed to acquire Mercury Network, a valuation technology and appraisal management platform provider, from Serent Capital Management Co. LLC.
The company has bought a 45% minority stake in Mercury Network and will acquire the remaining stake later this year, subject to regulatory approvals. Mercury Network will continue to be headquartered in Oklahoma City upon the deal's closing.
Oklahoma City-based Mercury Network provides the software used by more than 800 small and medium-sized mortgage lenders and appraisal management companies. Serent Capital acquired Mercury Network in 2015.
Mercury Network's purchase is expected to add to CoreLogic's adjusted EPS.