In December 2020, the Federal Trade Commission filed a lawsuit to prevent the acquisition of Black Knight by Intercontinental Exchange, Inc. (ICE). The FTC argues that the acquisition would reduce competition in the market for integrated software and services for the mortgage and real estate industry, and would lead to higher prices and reduced innovation. Black Knight is a leading provider of software and services to the mortgage and real estate industry, and its products are used by many of the largest banks, lenders, and servicers in the United States. ICE is a diversified holding company that owns and operates a number of exchanges, including the New York Stock Exchange, and is a leading provider of data and technology to the financial services industry. If the acquisition is approved, ICE would become the largest provider of integrated software and services for the mortgage and real estate industry, with a market share of approximately 60%. The FTC is asking the court to issue a temporary restraining order to prevent the acquisition from proceeding while the case is being litigated.
You can read this full article at: https://www.housingwire.com/articles/ftc-wants-a-temporary-pause-on-ices-acquisition-of-black-knight/(subscription required)
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