Black Knight Announces Executive Management Transition; Buys Remaining Stake In Optimal Blue

(RTTNews) - Black Knight Inc. (BKI), on Tuesday, announced that its Chairman and Chief Executive Officer Anthony Jabbour would assume the role of Executive Chairman of the Board, and the company's President Joe Nackashi would assume the role of Chief Executive Officer.

Also, the company announced that its Chief Financial Officer Kirk Larsen would assume the role of President and CFO. These new appointments are effective May 16, 2022.

In a separate press release, Black Knight announced the acquisition of outstanding interests of Optimal Blue Holdco LLC from co-investors Cannae Holdings Inc. and investment entities affiliated with Thomas H. Lee Partners, L.P.

The aggregate purchase consideration of $1.156 billion was a combination of 36,376,360 shares of Dun & Bradstreet Holdings Inc. stock valued at $722.5 million and $433.5 million in cash, funded by borrowings under Black Knight's revolving credit facility.

Further, the transaction is expected to increase 2022 Adjusted EPS by $0.11 and raise the company's December 31, 2021 gross leverage ratio to 3.9X on a pro forma basis. The transaction would also simplify its organizational structure with Optimal Blue as a wholly-owned subsidiary of Black Knight, the company added.