Black Knight To Acquire Top of Mind Networks For $250M Cash

Black Knight Inc (NYSE:BKI) agreed to acquire Surefire developer Top of Mind Networks for $250 million in cash.
Surefire is a customer relationship management (CRM) and marketing automation system for the mortgage industry.
Primus Capital held a majority stake in Top of Mind with a significant minority stake by the founders.
Top of Mind is estimated to contribute $13 million in synergistic revenue to Black Knight's Origination Software business in the second half of 2021.
Black Knight CEO Anthony Jabbour estimated the arrangement to help the lender clients of all sizes to close more loans and create lifelong customers.
Black Knight held $44.9 million in cash and equivalents as of Mar. 31, 2021. It had a debt of $2.26 billion and an available capacity of $883.0 million on a revolving credit facility.
Price action: BKI shares closed higher by 2.39% at $73.76 on Thursday.
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