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Intercontinental Exchange, Inc. 8-K Report, Corporate Update (Sep 15, 2023)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed September 15, 2023
Period End
September 15, 2023
Security
ICE
In the record · 2016–202610-K1510-Q338-K137

ICE filed 15 annual reports (10-K), 33 quarterly reports (10-Q) and 137 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · May ’18May ’18
  2. Deal closed8-K · Sep ’20Sep ’20
  3. Material agreement8-K · Jun ’22Jun ’22
  4. Material agreement8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed September 15, 2023. Cited figures are marked; the original filing is the authoritative source.

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.

02—Key points

Key Highlights

  1. ICE has completed the sale of Black Knight's Optimal Blue and Empower loan origination system (LOS) businesses.
  2. The sale of these Divested Businesses was a condition for FTC regulatory clearance of the Black Knight acquisition.
  3. The divestiture occurred within the FTC's stipulated 20-day timeframe following the Black Knight acquisition's close.
  4. The acquisition of Black Knight by ICE was completed on September 5, 2023.
  5. The sale was made to subsidiaries of Constellation Software, Inc.
  6. This action resolves a key regulatory hurdle for ICE's integration of Black Knight.

03—Questions

Frequently Asked Questions

  1. What was sold by Intercontinental Exchange (ICE)?

    ICE sold Black Knight's Optimal Blue and Empower loan origination system (LOS) businesses, referred to as the 'Divested Businesses'.

  2. Why did ICE sell these businesses?

    The sale was a requirement set by the U.S. Federal Trade Commission (FTC) to gain regulatory approval for ICE's acquisition of Black Knight.

  3. When did the acquisition of Black Knight by ICE officially close?

    The acquisition of Black Knight by ICE was completed on September 5, 2023.

  4. Who acquired the Divested Businesses from ICE?

    The Divested Businesses were sold to subsidiaries of Constellation Software, Inc.

04—Continue

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