BKI - Black Knight acquired remaining interest in Optimal Blue for $1.2B

Black Knight (NYSE:BKI) acquired the outstanding interests of Optimal Blue Holdco from co-investors Cannae (NYSE:CNNE) and investment entities affiliated with Thomas H. Lee Partners. The purchase consideration of $1.16B was a combination of 36.4M Dun & Bradstreet shares valued at $722.5M and $433.5M in cash, funded by borrowings under Black Knight's revolving credit facility. The transaction is expected to increase 2022 Adj. EPS by $0.11 and will expand the company's Dec. 31, 2021 gross leverage ratio to 3.9X on a pro forma basis. Post the transaction, Black Knight owns ~18.5M Dun & Bradstreet shares with a fair value of $352.8M (based on Feb.14 closing price).

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Black Knight acquired remaining interest in Optimal Blue for $1.2B