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Black Knight, Inc. Announces Shareholder Approval and Closing of Spin-Off Transaction

October 02, 2017

JACKSONVILLE, Fla., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Black Knight, Inc. (NYSE:BKI) announced the completion of the transactions pursuant to the previously announced merger agreement among Black Knight Financial Services, Inc. (“Black Knight”), Fidelity National Financial, Inc., (“FNF”) Black Knight, Inc. (formerly Black Knight Holdco Corp.) (“New Black Knight”), and several subsidiaries of FNF (the “Transaction”).  The merger agreement was approved on September 27, 2017 at a special meeting of shareholders of Black Knight.

As previously disclosed, the Transaction in effect resulted in the indirect distribution of FNF’s equity interests in Black Knight to the holders of FNF Group common stock.  Upon the closing of the Transaction, Black Knight, Inc. became the new public parent of Black Knight Financial Services, Inc.  Starting today, New Black Knight’s shares will be traded on the New York Stock Exchange (“NYSE”) under the trading symbol “BKI”.  New Black Knight shares have a new CUSIP number of 09215C105.  Under the organizational documents of New Black Knight, the rights of the holders of New Black Knight common stock are substantially the same rights as the former holders of Black Knight Class A common stock.

“We believe Black Knight and FNF offer investors unique value propositions, and this transaction will unlock significant value for all shareholders," said Black Knight Executive Chairman Bill Foley. “Both companies will benefit from a less complex corporate structure, enhanced trading liquidity, and eligibility for index inclusion. This transaction marks another important milestone in Black Knight’s evolution to become the premier provider of software and data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals.”

About Black Knight
Black Knight is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.

Forward-Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on Black Knight management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Black Knight undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties that forward-looking statements are subject to include, but are not limited to:  security breaches against our information systems; our ability to maintain and grow our relationships with our customers; changes to the laws, rules and regulations that affect our and our customers’ businesses; our ability to adapt our services to changes in technology or the marketplace; the effect of any potential defects, development delays, installation difficulties or system failures on our business and reputation; changes in general economic, business, regulatory and political conditions, particularly as they affect the mortgage industry; risks associated with the availability of data; the effects of our substantial leverage on our ability to make acquisitions and invest in our business; our ability to successfully integrate strategic acquisitions; and other risks and uncertainties detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of our Annual Report on Form 10-K and other filings with the Securities and Exchange Commission (the “SEC”).

Information for Investors:

Kirk Larsen
Black Knight

Information for Media:

Michelle Kersch
Black Knight

Source: Black Knight, Inc.
Categories: Press Releases
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