Black Knight Announces Acquisition of Collateral Analytics,
JACKSONVILLE, Fla., March 3, 2020 /PRNewswire/ -- Black Knight, Inc. (NYSE: BKI), a leading provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets verticals, announced that it has acquired Collateral Analytics, a provider of real estate analytic products and tools to support appraisers, appraisal management companies, lenders, investors and government agencies.
"The level of technological innovation, comprehensive data and insightful analytics that Black Knight and Collateral Analytics offer and are continuing to develop are providing greater and faster access to the information and tools our clients need to make more informed property investment decisions," said Black Knight CEO Anthony Jabbour. "Black Knight and Collateral Analytics are a natural fit, and now our clients will be able to leverage a comprehensive, combined product and data set from a single, proven, trusted source for improved accuracy and less risk."
The Collateral Analytics team of analytics and technology professionals is primarily focused on building and delivering automated valuation models (AVMs), collateral and mortgage risk tools, as well as the application of sophisticated analytics to a wide range of real estate-related databases. Collateral Analytics is also innovating with new digital solutions that enable valuation professionals to be more efficient in the field. These digital apps integrate with a centralized collateral system that enables lenders and appraisal management companies to manage risk and quality.
In addition to offering one of the industry's top-rated AVMs, Collateral Analytics offers products for real estate analytics, portfolio reviews and risk management. The company holds proprietary data assets, including data representing approximately 600,000 neighborhoods across the nation; unique property-specific traits that influence valuation; household demographics on over 100 million individual households; and commercial market sales comps, rent prices and capitalization rates.
"Collateral Analytics is proud to join forces with Black Knight in providing exceptional technology, robust data and market-leading analytics for smarter decision-making," said Collateral Analytics CEO Michael Sklarz, Ph.D. "Combining the capabilities of Collateral Analytics and Black Knight is a decisive win for all of our clients, employees and the real estate industry as a whole."
Sklarz will continue to lead this business line after the acquisition and will report to Ben Graboske, president of Black Knight Data & Analytics.
The terms of the acquisition were not disclosed.
About Black Knight
Black Knight (NYSE:BKI) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.
As a leading fintech, 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.
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;
- our ability to protect our proprietary software and information rights;
- 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 existing leverage on our ability to make acquisitions and invest in our business;
- our ability to successfully integrate strategic acquisitions;
- risks associated with our investment in Star Parent, L.P. and the operation of its indirect subsidiary D&B; 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 for the year ended December 31, 2018 and other filings with the SEC.
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SOURCE Black Knight, Inc.