ICE to Buy Mortgage-Software Firm Black Knight for $13.1 Billion
Industry Update
May 4, 2022
Source: yahoo.com
Intercontinental Exchange Inc. has agreed to buy Black Knight Inc. in a deal valuing the mortgage software provider at about $13.1 billion, as the owner of the New York Stock Exchanges makes a huge bet on the future of the U.S. housing market.
ICE has agreed to pay $85 per share in cash and stock for the Jacksonville, Florida-based company, according to a statement Wednesday. Bloomberg News reported on the potential takeover earlier.
ICE and other exchange operators have been branching into data and other areas of fintech in recent years as growth stalled in the traditional exchange business. Black Knight would complement Ellie Mae Inc., the mortgage-software provider that ICE agreed to buy for $11 billion in 2020.
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