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Black Knight´s Closes Acquisition of Optimal Blue
Wednesday 16 September 2020

US-based Black Knight, Inc, a provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, has completed its acquisition of secondary market solutions and actionable data services provider Optimal Blue, the company said.

In connection with the acquisition, Black Knight will combine its Compass Analytics business with Optimal Blue in a newly formed entity with minority co-investors Cannae and Thomas H. Lee Partners, L.P.

US-based holding company Cannae Holdings, Inc's (NYSE: CNNE) and THL will each have a 20% ownership interest in the new entity.

Black Knight will own 60% of the new entity. Optimal Blue was purchased for an enterprise value of USD 1.8bn funded with cash on hand, debt financing and investments from Cannae and THL.

Trasimene Capital Management acted as the financial advisor to Black Knight.

Cannae Holdings, Inc. (NYSE: CNNE) is a holding company engaged in actively managing and operating a group of companies and investments, as well as making additional majority and minority equity portfolio investments in businesses, in order to achieve superior financial performance and maximize the value of these assets.

Cannae was founded and is led by investor William P. Foley, II.

Foley is responsible for the creation and growth of over USD 100bn in publicly traded companies including Fidelity National Information Services, Fidelity National Financial and Black Knight, Inc. Cannae's current principal holdings include Dun and Bradstreet Holdings, Inc, which recently completed a business transformation and IPO.

Cannae holds an approximately 18% interest in Dun and Bradstreet or ~76m shares. Cannae's second principal holding is Ceridian, which Foley transformed from a legacy payroll bureau into a leading cloud based provider of human capital management software.

Cannae owns 11% of Ceridian representing approximately 16.1m shares. Cannae's third largest holding is approximately 6m shares and equivalents in CoreLogic.
Date Published: 16/09/2020