Black Knight Financial Services, Inc. (NYSE:BKFS) announced today
that, effective upon the completion of the previously announced
distribution by Fidelity National Financial, Inc. (NYSE:FNF) of its
equity interest in Black Knight Financial Services, Inc., it will
be rebranding as Black Knight, clarifying its position as a leading
provider of software, data and analytics to the nation’s top
financial institutions.
Black Knight’s software, data and analytics solutions touch a
vast majority of mortgages in the United States through its
innovative suite of high-performance software and analytic
platforms to the mortgage and consumer loan, real estate and
capital markets verticals. Black Knight’s comprehensive origination
and servicing software and data and analytics solutions are
integrated across the home ownership lifecycle through business
process automation, workflow and rules engines to help clients
increase operational efficiency, mitigate risk and improve
financial performance.
“Black Knight is ready to move forward as an independent company
and continue producing results that exceed expectations for our
clients, shareholders and employees,” said Black Knight Executive
Chairman Bill Foley. “Strategically, Black Knight will remain
laser-focused on delivering our software and data and analytics
capabilities through our integrated platforms, and developing
innovative solutions that help our clients solve their most
significant challenges and further our leadership in the
industry.”
Black Knight Chief Executive Officer Tom Sanzone added, “Black
Knight has a long and proud history of success. Many of the leading
financial institutions in the United States, including Wells Fargo,
JPMorgan Chase and many others, as well as leading real estate and
capital markets participants, rely on Black Knight
solutions.”
Sanzone continued, “As our clients continue to search for ways
to increase efficiency, enhance their operations and reduce risk
and compliance exposure, Black Knight remains the right company at
the right time to offer solutions and insight to help them overcome
these complex business and regulatory challenges and optimize
performance.”
We expect that the planned distribution of FNF’s equity interest
in Black Knight Financial Services, Inc. to the holders of FNF
group common stock will be completed on Friday, September 29, 2017,
and, as a result of a series of transactions, a new publicly traded
company, Black Knight, Inc. (formerly known as Black Knight Holdco
Corp.) will become the new public parent of Black Knight Financial
Services, Inc. Following the completion of such transactions,
Black Knight, Inc.’s common stock will trade on the NYSE under the
ticker symbol BKI, with trading expected to commence effective
Monday, October 2, 2017.
About Black KnightBlack Knight is a leading
provider of integrated software and data and analytics solutions
that facilitate and automate many of the business processes across
the homeownership lifecycle.
Black Knight is committed to being a premier business
partner that clients rely on to achieve their strategic goals,
realize greater success and better serve their customers by
delivering best-in-class software, services and insights with a
relentless commitment to excellence, innovation, integrity and
leadership. For more information on Black Knight, please visit
www.BKFS.com.
Forward-Looking StatementsThis press release
contains forward-looking statements that involve a number of risks
and uncertainties. Statements that are not historical facts,
including statements regarding expectations, hopes, intentions or
strategies regarding the future are forward-looking statements.
Forward-looking statements are based on Black Knight management’s
beliefs, as well as assumptions made by, and information currently
available to, them. Because such statements are based on
expectations as to future financial and operating results and are
not statements of fact, actual results may differ materially from
those projected. Black Knight undertakes no obligation to update
any forward-looking statements, whether as a result of new
information, future events or otherwise. The risks and
uncertainties that forward-looking statements are subject to
include, but are not limited to: our ability to successfully
achieve the conditions to and consummate the tax-free spin-off of
Black Knight from Fidelity National Financial, Inc. (the
“Distribution”); uncertainties as to the timing of the Distribution
and any costs, expenses and utilization of resources relating
thereto; the risk of shareholder litigation in connection with the
spin-off; diversion of Black Knight management’s time and attention
in connection with the spin-off; security breaches against our
information systems; our ability to maintain and grow our
relationships with our customers; changes to the laws, rules and
regulations that affect our and our customers’ businesses; our
ability to adapt our services to changes in technology or the
marketplace; the effect of any potential defects, development
delays, installation difficulties or system failures on our
business and reputation; changes in general economic, business,
regulatory and political conditions, particularly as they affect
the mortgage industry; risks associated with the availability of
data; the effects of our substantial leverage on our ability to
make acquisitions and invest in our business; risks associated with
our structure and status as a “controlled company”; our ability to
successfully integrate strategic acquisitions; and other risks and
uncertainties detailed in the “Statement Regarding Forward-Looking
Information,” “Risk Factors” and other sections of our Annual
Report on Form 10-K and other filings with the Securities and
Exchange Commission (the “SEC”).
Additional Information and Where to Find It
This press release shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended. In connection with the Distribution, (i) New BKH Corp.
(“New BKH”) filed with the SEC on June 21, 2017 a preliminary
registration statement on Form S-1, as amended by Amendment No. 1
on July 18, 2017, Amendment No. 2 on August 14, 2017, and Amendment
No. 3 on August 23, 2017, which the SEC declared effective on
August 25, 2017, and (ii) Black Knight Holdco Corp. (“New Black
Knight”) filed with the SEC on June 13, 2017 a preliminary
registration statement on Form S-4, as amended by Amendment No. 1
on July 18, 2017, Amendment No. 2 on August 14, 2017, and Amendment
No. 3 on August 23, 2017, which the SEC declared effective on
August 25, 2017 (as so amended, the “New Black Knight Registration
Statement”). The New Black Knight Registration Statement included a
prospectus and a proxy statement, which was sent to Black Knight’s
shareholders on or about August 28, 2017 in connection with their
votes required in connection with the Distribution. INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION
STATEMENT/PROSPECTUS AND PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
TRANSACTIONS.
Investors and security holders may obtain these materials and
other documents filed with the SEC by Fidelity National Financial,
Inc., New BKH or New Black Knight free of charge from the SEC’s
website, www.sec.gov. These documents can also be obtained free of
charge from Black Knight by directing a written request to
Black Knight Financial Services, Inc., 601 Riverside Avenue,
Jacksonville, Florida 32204, Attn: Corporate Secretary, Telephone
(904) 854-5100.
Participants in a Solicitation The directors
and executive officers of Black Knight and other persons may be
deemed to be participants in the solicitation of proxies in respect
of proposals to approve the transactions discussed herein.
Information regarding the directors and executive officers of Black
Knight is available in its definitive proxy statement, which was
filed with the SEC on April 26, 2017. Free copies of this document
may be obtained as described in the preceding paragraph.
Information for Investors:Kirk LarsenBlack
Knight904.527.4470kirk.larsen@bkfs.com
Information for Media:
Michelle KerschBlack
Knight904.854.5043michelle.kersch@bkfs.com
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