The TitlePoint division of Black Knight, Inc. (NYSE: BKI) will be sold to Fidelity National Financial, Inc. (NYSE: FNF) for $225 million in cash, as disclosed by the two companies today.

As a part of Black Knight’s Data & Analytics segment, TitlePoint allows users to quickly compile title search packages to ensure the safe transfer and financing of real property by providing access to detailed property information, images of documents, and maps from hundreds of counties across the United States. TitlePoint’s technology capabilities and scope have been steadily expanded and improved by Black Knight after the company’s acquisition in 2014.

In 2014, affiliates of Fidelity National Financial, Inc. (“FNF”) contributed Property Insight, LLC, which included TitlePoint, to a Black Knight affiliate, and in that agreement, Black Knight granted FNF the right to repurchase the entity that previously held the TitlePoint business in the event of a change in control of Black Knight. After learning about ICE’s plans to acquire Black Knight, FNF approached the latter about repurchasing TitlePoint. The closing of ICE’s purchase of Black Knight is not a condition of the sale of TitlePoint.

Black Knight CEO Joe Nackashi praised the deal, saying it would allow the company to “concentrate our efforts in our mortgage-specific software and our core data and analytics capabilities” and “reduce our revenues that are vulnerable to origination volumes.”

Source: Prnewswire