Last week, Intercontinental Exchange Inc. (ICE) and Black Knight Inc. (BKI) have signed an agreement to sell Black Knights’ Optimal Blue suite of mortgage technology solutions to Constellation Software Inc. in an effort to potentially save their proposed merger.
The merger between ICE and BKI would form one of the largest fintechs in the world, combining ICE’s leading financial market technologies and data services with BKI’s leading mortgage software. It had previously been scrutinized in recent months by the US Department of Justice on antitrust grounds. The deal for Optimal Blue was prompted by the DOJ’s request to divest Optimal Blue as one of the conditions of the merger’s approval.
The sale of Optimal Blue is a major step forward in completing this critical merger, which promises to bring insights to capital market participants while providing efficiency and innovative solutions to the mortgage industry.
By offering Optimal Blue to Constellation, both ICE and BKI look to create a positive outcome for customers. It’s expected that a successful sale of the Optimal Blue suite will help to increase competition in the USA mortgage market and generate greater customer value.
• Intercontinental Exchange Inc. (ICE) and Black Knight Inc. (BKI) have agreed to sell Black Knight’s Optimal Blue business to Constellation Software Inc.
• The sale of the Optimal Blue suite is intended to save a proposed merger between the two companies, providing efficiency and innovative solutions to the mortgage industry
• The deal is an effort to increase competition in the U.S mortgage market and generate greater customer value.
You can read this full article at: https://www.housingwire.com/articles/ice-black-knight-agree-to-sell-optimal-blue-to-constellation-software-to-save-the-merger-deal/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.