IRVINE, Calif. (AP) -- Real estate data provider CoreLogic has acquired the Case-Shiller Indexes, a slate of widely followed gauges of U.S. home prices.
CoreLogic said Thursday that it paid about $6 million to Fiserv Inc. for the well-known home price indexes.
CoreLogic also noted that Case-Shiller's indexes are complementary to its own set of home price measures. As a result, CoreLogic and Case-Shiller will each continue to issue their own separate indexes.
Both indexes track home prices by analyzing data on single-family homes that have two or more recorded sales transactions.
CoreLogic said it is renaming its indexes to CoreLogic Case-Shiller indexes. The S&P/Case-Shiller Home Price Indices, will remain unchanged.
David Stiff, chief economist for Case-Shiller, will continue to shepherd the CoreLogic Case-Shiller Indexes, while Mark Fleming, chief economist for CoreLogic, will oversee the firm's reports.
CoreLogic shares gained $2.15, or 8.7 percent, to $26.85 in afternoon trading. The stock is up about 3.7 percent this year.