Intercontinental Exchange (ICE) and Black Knight agreed to sell Black Knight’s product and pricing engine unit Optimal Blue business to a subsidiary of Canada’s Constellation Software in an effort to save the merger deal.
The $700 million proposed transaction includes a payment by Constellation of $200 million in cash, with the remainder financed by a $500 million promissory note issued by Constellation to Black Knight, as a subsidiary of ICE, at the closing of the transaction, the two companies announced Monday.
ICE and Black Knight entered into a divestiture agreement in connection with efforts to secure regulatory clearance of ICE’s proposed acquisition details ⇒
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