GTCR To Acquire Optimal Blue

Private equity firm GTCR is acquiring mortgage technology provider Optimal Blue.

Although the acquisition price has not been disclosed, according to a press release, GTCR has committed up to $350 million of equity capital to pursue growth initiatives at Optimal Blue. It is reportedly considering complementary acquisitions that could round out Optimal Blue’s offerings.

Optimal Blue offers a product and pricing engine that is used to process approximately one in four mortgages originated in the U.S. The company has expanded its automated workflow platform over the years to include secondary marketing, compliance, data and analytics, and consumer engagement services across its network.

Optimal Blue’s software suite currently does not include a loan origination system.

The business will be expanded under the leadership of mortgage technology executive Scott Happ, according to the release. Happ, who is founder and former CEO of Mortgagebot, will join the company as CEO at close.

Sue Baker, a former senior vice president at Mortgagebot, will join Happ as vice president of product. Founders and current co-CEOs Larry Huff and Ivan Darius will remain involved with Optimal Blue as consultants. The remainder of the management team will stay in place, according to the release.


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