Deal is expected to close in the third quarter
Black Knight is looking to expand its mortgage technology suite with its acquisition of Top of Mind Networks, a customer relationship management (CRM) and marketing automation system provider.
According to its announcement, Black Knight has reached an agreement to acquire Top of Mind for approximately $250 million in cash. The transaction is expected to contribute roughly $13 million in incremental revenue to Black Knight’s Origination Software business in the second half of 2021.
“The acquisition of Top of Mind is a continuation of our strategy to deliver innovative solutions to our clients that will help them achieve their strategic priorities,” said Black Knight CEO Anthony Jabbour. “Our combined clients will be able to access additional market-leading offerings from a single, trusted provider, while we will be able to further expand Black Knight’s opportunities to cross-sell our solutions through Top of Mind’s broad reach among more than 850 commercial banks, mortgage banks, credit unions and mortgage brokerage companies.”
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Black Knight said it will initially focus on integrating Top of Mind’s Surefire platform with its Empower loan origination system (LOS) and Optimal Blue PPE (product, pricing and eligibility engine) before creating new connections and integrations to serve both lenders and servicers.
“Through its Surefire marketing automation and CRM platform, Top of Mind has brought incredible value to the sales and marketing side of the mortgage industry by helping lenders gain powerful competitive advantages for their loan officers,” Jabbour said. “Integrating Surefire’s capabilities within the wider Black Knight mortgage technology ecosystem will make it possible for lender clients of all sizes to close more loans and create customers for life.”
“Top of Mind and Black Knight are a great strategic fit because we both share a passion for delivering innovation, adding value and driving growth for our clients,” said Top of Mind CEO Bill Hayes. “Our team is looking forward to working with Black Knight to help lenders and servicers create customers for life by engaging their customers with timely communications and highly personalized touchpoints while helping clients stay compliant in their marketing efforts.”
The deal is expected to close in the third quarter of 2021, subject to customary closing conditions and regulatory review.
