Summary
Intercontinental Exchange, Inc. (ICE) announced on September 15, 2023, that it has successfully completed the divestiture of Black Knight's Optimal Blue and Empower loan origination system (LOS) businesses. This sale was a critical condition for securing regulatory approval from the U.S. Federal Trade Commission (FTC) for ICE's larger acquisition of Black Knight, which closed on September 5, 2023. The company has fulfilled the FTC's requirement to sell these specific assets within 20 days of the Black Knight acquisition's completion. This strategic move paves the way for ICE to fully integrate the remaining Black Knight operations, addressing regulatory concerns and moving forward with its intended transaction.
Key Highlights
- 1ICE has completed the sale of Black Knight's Optimal Blue and Empower loan origination system (LOS) businesses.
- 2The sale of these Divested Businesses was a condition for FTC regulatory clearance of the Black Knight acquisition.
- 3The divestiture occurred within the FTC's stipulated 20-day timeframe following the Black Knight acquisition's close.
- 4The acquisition of Black Knight by ICE was completed on September 5, 2023.
- 5The sale was made to subsidiaries of Constellation Software, Inc.
- 6This action resolves a key regulatory hurdle for ICE's integration of Black Knight.