Intercontinental Alternate, Inc. (NYSE:ICE) and Black Knight, Inc. (NYSE:BKI) immediately introduced that, in reference to their beforehand introduced merger settlement for ICE’s acquisition of Black Knight, they’ve agreed to promote Black Knight’s Optimum Blue enterprise to a subsidiary of Constellation Software program Inc. (TSX:CSU).
Below phrases of the divestiture settlement, Constellation will purchase Black Knight’s Optimum Blue enterprise for $700 million. The construction of the proposed transaction features a cost by Constellation of $200 million in money, with the rest financed by a $500 million promissory observe issued by Constellation to Black Knight, as a subsidiary of ICE, on the closing of the transaction.
ICE and Black Knight entered into the divestiture settlement in reference to efforts to safe regulatory clearance of ICE’s proposed acquisition of Black Knight. The divestiture transaction is topic to the closing of ICE’s acquisition of Black Knight, the closing of Constellation’s acquisition of Black Knight’s Empower mortgage origination system (LOS) enterprise beforehand introduced earlier this yr in March, and different customary closing situations.