On Wednesday, Sept. 15, CoreLogic announced it had acquired Next Gear Solutions, which could have far-reaching impacts on the restoration industry when it comes to estimating, data, and more.
A few things to understand:
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CoreLogic Acquires Next Gear Solutions
Mergers & Acquisitions: Exploring Consolidation in the Restoration Industry
- CoreLogic owns Symbility, a competitor to Xactware.
- Verisk, a competitor to CoreLogic, owns Xactware.
- Next Gear Solutions’ DASH platform currently integrates with Xactimate; all parties say that integration will remain in tact.
- CoreLogic and Verisk are large companies both centered around data.
Here are all the resources you can find on C&R as we work to answer burning industry questions:
- Official press release from CoreLogic announcing acquisition.
- VIDEO: Next Gear Solutions’ Founder & CEO Garret Gray’s first public conversation after acquisition announcement, answering many burning industry questions about data, future of Next Gear, estimating competition, etc.
- VIDEO: Xactimate gurus Seth Harrison (Executive Director of Actionable Insights) and Mark Whatley (Founder of Actionable Insights) discuss industry implications within this acquisition.
- VIDEO: Top Xactimate trainer and RIA AGA Pricing Taskforce Chair Ben Justesen talks about how this could create competition in the estimating and software space, how contractor data may be affected, and what contractors need to do moving forward.
- VIDEO: RIA President Mark Springer and Restoration Advocate Ed Cross offer initial reactions from the Restoration Industry Association on this acquisition.
- OFFICIAL STATEMENT: Official statement from the Restoration Industry Association.
- XACTWARE LETTER: Xactware President Mike Fulton answers many questions looming after NGS acquisition.
- OPINION LETTER #1
- OPINION LETTER #2
Keep checking back on www.candrmagazine.com for continuing coverage on this story.
Have questions or comments? Email us! michelle@candrmagazine.com
