Intercontinental Exchange Inc., a global provider of data, technology and market infrastructure, has completed its acquisition of Black Knight Inc., a software, data and analytics company that serves the housing finance continuum as well as secondary markets.
The Black Knight acquisition follows ICE’s 2020 acquisition of Ellie Mae, its 2019 acquisition of Simplifile and its 2018 acquisition of Mortgage Electronic Registrations Systems (MERS), which together created the foundation of its ICE Mortgage Technology business segment. ICE Mortgage Technology combines data and expertise to help automate the mortgage process – from consumer engagement through loan registration, and every step in between.
“Since our founding over 20 years ago, ICE has steadfastly adhered to our founding principle that applying technological innovation and digitization to traditionally analog businesses can make markets more efficient and transparent for all participants,” says Jeffrey C. Sprecher, ICE founder, chair and CEO. “Our team is well-positioned and ready to apply our proven playbook across the U.S. mortgage ecosystem to help improve the homeownership experience for millions of American families.”
The aggregate value of the consideration to be received by Black Knight stockholders (including rollover equity awards) is approximately $11.9 billion.
As previously announced, in connection with efforts to secure regulatory clearance from the Federal Trade Commission for ICE’s acquisition of Black Knight, ICE has agreed to divest Black Knight’s Optimal Blue and Empower loan origination system businesses to subsidiaries of Constellation Software Inc. The divestitures are expected to be completed within the next 20 days.
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