M&A · Tech · Services-Prepackaged Software
Intercontinental Exchange, Inc. to acquire Black Knight, Inc.
Announced May 4, 2022 · Closed Sep 5, 2023
Deal value$16.00BEV $16.00B
Premium33.0%To unaffected price
EV / Adj. EBITDA22.5x10.8x EV / Revenue
ConsiderationCash and stock$85.00 per share
Transaction
- Acquirer
- Intercontinental Exchange, Inc. (ICE)
- Target
- Black Knight, Inc. (BKI)
- Buyer type
- Strategic
- Offer price per share
- $85.00
- Enterprise value
- $16.00B
- Status
- Closed Sep 5, 2023
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · Wells Fargo, Goldman Sachs
Advisors
- To the acquirer
- Goldman Sachs, Wells Fargo
- To the target
- JPMorgan
Sector context · Tech
- Comparable deals
- 67 in the prior 24 months
- Premium
- 33.0% vs. 31.6% sector median
- EV / Adj. EBITDA
- 22.5x vs. 17.4x sector median
- Break fee
- Sector median 3.0%
Timeline
- AnnouncedMay 4, 2022
- Proxy filedAug 19, 2022
- Definitive proxyAug 19, 2022
- Shareholder voteSep 21, 2022
- ClosedSep 5, 2023