Black Knight is trying to increase its mortgage know-how suite with its acquisition of Prime of Thoughts Networks, a buyer relationship administration (CRM) and advertising automation system supplier.
Based on its announcement, Black Knight has reached an settlement to amass Prime of Thoughts for about $250 million in money. The transaction is predicted to contribute roughly $13 million in incremental income to Black Knight’s Origination Software program enterprise within the second half of 2021.
“The acquisition of Prime of Thoughts is a continuation of our technique to ship progressive options to our purchasers that can assist them obtain their strategic priorities,” mentioned Black Knight CEO Anthony Jabbour. “Our mixed purchasers will have the ability to entry extra market-leading choices from a single, trusted supplier, whereas we will additional increase Black Knight’s alternatives to cross-sell our options by means of Prime of Thoughts’s broad attain amongst greater than 850 industrial banks, mortgage banks, credit score unions and mortgage brokerage firms.”
Black Knight mentioned it should initially give attention to integrating Prime of Thoughts’s Surefire platform with its Empower mortgage origination system (LOS) and Optimum Blue PPE (product, pricing and eligibility engine) earlier than creating new connections and integrations to serve each lenders and servicers.
“By means of its Surefire advertising automation and CRM platform, Prime of Thoughts has introduced unbelievable worth to the gross sales and advertising facet of the mortgage business by serving to lenders acquire highly effective aggressive benefits for his or her mortgage officers,” Jabbour mentioned. “Integrating Surefire’s capabilities throughout the wider Black Knight mortgage know-how ecosystem will make it potential for lender purchasers of all sizes to shut extra loans and create clients for all times.”
“Prime of Thoughts and Black Knight are a fantastic strategic match as a result of we each share a ardour for delivering innovation, including worth and driving progress for our purchasers,” mentioned Prime of Thoughts CEO Invoice Hayes. “Our staff is wanting ahead to working with Black Knight to assist lenders and servicers create clients for all times by participating their clients with well timed communications and extremely personalised touchpoints whereas serving to purchasers keep compliant of their advertising efforts.”
The deal is predicted to shut within the third quarter of 2021, topic to customary closing circumstances and regulatory evaluation.