Constellation Software’s Perseus Group Enters into Agreement to Acquire Black Knight’s Optimal Blue Business
17 Juillet 2023 - 2:30PM
Constellation Software Inc. (“Constellation”) (TSX: CSU) today
announced that its Perseus operating group has entered into a
binding commitment with Intercontinental Exchange, Inc. (NYSE: ICE)
and Black Knight, Inc. (NYSE: BKI) to acquire Black Knight’s
Optimal Blue business.
Under terms of the agreement, Constellation will acquire Black
Knight’s Optimal Blue business for $700 million USD. The structure
of the proposed transaction includes a payment by Constellation of
$200 million USD in cash, with the remainder financed by a $500
million USD promissory note issued by Constellation to Black
Knight, as a subsidiary of ICE, at the closing of the
transaction.
Completion of this transaction is subject to the closing of
ICE’s acquisition of Black Knight, the closing of Constellation’s
acquisition of Black Knight’s Empower loan origination system (LOS)
business entered into earlier this year in March, and other
customary closing conditions.
About Perseus The Perseus operating group is an
operating group of Constellation. Perseus acquires and invests in
software businesses that are committed to providing long-term
solutions and life-long partnerships to customers. For more
information about Perseus, visit: https://www.csiperseus.com/
About Constellation Constellation acquires,
manages and builds vertical market software businesses that provide
mission-critical software solutions.
For more information, contact:
Constellation Software Inc. Jamal Baksh, Chief Financial Officer
Tel: (416) 861-9677 jbaksh@csisoftware.comwww.csisoftware.com
Constellation Software (TSX:CSU)
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