In mid-August 2021, Black Knight, Inc. – a leading FinTech provider of software and services to the mortgage and real estate industries – announced that ICE, a global leader in financial data and analytics, would be acquiring it for $3.2 billion. This acquisition gave rise to several competitive concerns and led to an investigation by the U.S. Federal Trade Commission to assess the potential impact of the acquisition on competition in the mortgage industry.
The FTC ultimately accepted ICE’s proposed binding settlement through which ICE agreed to give competitors access to certain assets it will acquire in its purchase of Black Knight. This settlement protects the competitive environment for ‘Software as a Service’ (SaaS) mortgage technologies and other real estate technologies, helping ensure competition and innovation within the industry.
Key Aspects of the Release
– ICE received approval from the FTC after agreeing to a settlement that will ensure competition for mortgage and real estate technologies
– ICE agreed to give competitors access to certain assets it would acquire in its purchase of Black Knight
– The settlement protects the competitive environment in the mortgage industry, encouraging competition and innovation
– ICE and Black Knight originally announced the proposed acquisition for $3.2 billion in mid-August 2021
You can read this full article at: https://www.housingwire.com/articles/ice-black-knight-merger-can-go-forward-as-ftc-approves-settlement/(subscription required)
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