Black Knight Inc. announced a $1.8 billion deal July 27 to acquire Optimal Blue, a company that provides data and other services for the mortgage industry.
The Jacksonville-based mortgage technology company said it is partnering with Cannae Holdings Inc. and Thomas H. Lee Partners L.P. in the deal.
Both Black Knight and investment firm Cannae were spun off from Jacksonville-based Fidelity National Financial Inc., and private equity firm Thomas H. Lee has participated with Fidelity in previous investment deals.
Black Knight plans to combine Optimal Blue with its subsidiary called Compass Analytics into a new company, with Black Knight owning 60% of that company.
“By bringing Optimal Blue into the Black Knight family, we will be adding industry-leading product, pricing and eligibility capabilities to our already robust set of solutions and enhancing our already comprehensive data and analytics capabilities,” Black Knight CEO Anthony Jabbour said in a news release.
Black Knight is buying Optimal Blue from private equity firm GTCR LLC. The deal is expected to close during the third quarter.