First Advantage does two deals in two days
November 8, 2005
First Advantage Corp. is expanding its presence in the lead generation industry and adding a mortgage credit business to its operations.
First Advantage and its majority owner, The First American Corp., said they have jointly acquired a 75 percent ownership interest in LeadClick Media Inc., which provides Web-based lead generation services primarily to the automotive, real estate and financial services markets.
The deal was valued at $150 million, according to a release. First American (NYSE: FAF - News) contributed $45 million in cash and First Advantage contributed the balance in a combination of cash, stock and notes.
San Francisco-based LeadClick will help First Advantage grow its lead generation business and positively impact revenue, John Long, First Advantage CEO, said in the release.
The deal came one day after First Advantage acquired the mortgage credit reporting assets of Credit Data Service from credit reporting services firm Experian.
Terms of the purchase were not disclosed.
Credit Data Services, based in Maitland, provides mortgage credit and real estate services to national lenders and mortgage brokers, with a concentration of customers in the southeast. Credit Data will become part of First American CREDCO, a division of First Advantage.
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