Black Knight, Inc.: M&A transaction — Black Knight completes sale of Optimal Blue ($700M) and Empower (~$40M) to Constellation subsidiaries

Black Knight, Inc.

Optimal Blue sold for $700M: $200M cash plus $500M promissory note at 7% annual interest, maturing in 40 years.
Empower LOS business sold for ~$40M in cash; both transactions closed Sept 14, 2023.
Divestitures required to address FTC antitrust concerns related to ICE merger (closed Sept 5, 2023).
Pro forma financials show revenue reduction of $185.2M for six months ended June 30, 2023, net of divested businesses.
Black Knight must transfer the $500M note to a third party within six months of closing.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

Black Knight, Inc. completed a disposition involving Project Badger Holdco Inc. for $200 million in cash plus a $500 million promissory note (closed 2023-09-14).

Action: disposition
Counterparty: Project Badger Holdco Inc.
Consideration: $200 million in cash plus a $500 million promissory note
Closing: 2023-09-14

Exact text from the filing

a Delaware corporation (“ ICE ”). The purchase price payable by OB Purchaser to Black Knight under the OB Divestiture Agreement was approximately $700 million, comprised of $200 million in cash, subject to specified adjustments, and a promissory note issued by OB Purchaser to Black Knight in the principal amount of $500 million (the “ Note ”). The Note accrues

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 1.0

Black Knight, Inc. completed a disposition involving Constellation Web Solutions Inc. for approximately $40 million in cash (closed 2023-09-14).

Action: disposition
Counterparty: Constellation Web Solutions Inc.
Consideration: approximately $40 million in cash
Closing: 2023-09-14

Exact text from the filing

for the purposes set forth in the Empower Divestiture Agreement, ICE. The purchase price payable by CWS to Black Knight under the Empower Divestiture Agreement was approximately $40 million in cash, subject to specified adjustments. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION The following

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Source: SEC EDGAR

accession 0001193125-23-237753

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