Black Knight, a leading provider of integrated software, data, and analytics to the mortgage, and real estate industries, has signed a definitive agreement with private equity firm, GTCR, to acquire its subsidiary, Optimal Blue, for an enterprise value of $1.8 billion.
Black Knight will merge its Compass Analytics, an innovator in the FinTech industry with Optimal Blue, to form a new entity with minority co-investors Cannae Holdings, and Thomas H. Lee Partners. Black Knight will own 60% of the new company.
The mortgage industry’s leading marketplace platform, Optimal Blue’s network includes185 investors and approximately 1,000 originators, including brokers and service providers that use their industry-leading PPE engine, facilitating around $2 trillion of transactions annually.
Optimal Blue was acquired by GTCR from industry veteran Scott Happ, founder and former CEO of Mortgagebot, in July 2016.