New York Stock Exchange parent Intercontinental Exchange said on Wednesday it will acquire Black Knight in a deal valuing the mortgage-lending software and data analytics firm at $13.1 billion.
ICE’s cash-and-stock offer of $85 per share is a premium of nearly 34 percent to Black Knight’s close on Tuesday. The deal’s enterprise value is about $16 billion.
The companies said they expect the transaction to close in the first half of 2023.
The acquisition of Black Knight, which provides software, data, and analytics to the real estate and housing finance markets, is the latest in a string of deals since 2016 by ICE to support its mortgage servicing business as it bets on a windfall from the automation of the home financing process.
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