Fidelity National Financial to repurchase TitlePoint from Black Knight

TAGS

Fidelity National Financial (FNF) has signed an all-cash deal worth $225 million to acquire TitlePoint from Black Knight, a US-based software, data and analytics company.

TitlePoint facilitates searches for detailed information on properties, images of maps and documents from a number of counties in the US. The company helps title agents, title insurance underwriters, and closing attorneys compile title search packages quickly for supporting the transfer and financing of real property in a safe manner.

Since 2014, TitlePoint, which is focused on the science of real estate property research technology, has been part of the data and analytics unit of Black Knight.

Mike Nolan — Fidelity National Financial CEO said: “The acquisition of TitlePoint is just one more way FNF is investing in, expanding, and integrating property data, images, and search technology into FNF’s existing assets.

“Combined with other FNF digital technologies, this acquisition improves productivity and automation and streamlines the manufacturing of title plant information across our industry leading footprint.”

TitlePoint was previously owned by Fidelity National Financial. Black Knight, which is set to be acquired by Intercontinental Exchange, had previously given Fidelity National Financial a right to rebuy TitlePoint in the case of a change in its control.

Joe Nackashi — Black Knight CEO said: “This transaction enables us to focus our investments in our mortgage-specific software and our core data and analytics capabilities, while also reducing our revenues that are sensitive to origination volumes.”

Subject to customary conditions, the deal is likely to close next month.

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (0)
Disqus ( )