Intercontinental Exchange has deepened its push into the US housing market data business, striking the largest deal in its history by agreeing to purchase mortgage software company Black Knight for $13.1bn.
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ICE expands in mortgage tech with $13bn deal for Black Knight
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The purchase would make it easier for borrowers and lenders to agree mortgages, while helping homeowners lower their monthly payments and lessening the likelihood of default, ICE said. Sprecher added that Black Knight fitted into his company’s long-term strategy of turning old-line financial services into lucrative high-tech operations. “ICE’s simple mission has been to make analogue and opaque financial transactions more digital and transparent,” he said.
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