FTC settles challenge to ICE acquisition of Black Knight

The Federal Trade Commission today approved a proposed consent order to resolve antitrust concerns surrounding Intercontinental Exchange’s (ICE) proposed acquisition of Black Knight (BKI). Under the terms of the proposed order, Black Knight’s Optimal Blue business and Empower business, along with certain related products, will be divested to Constellation Web Solutions. ICE and Black Knight are required to maintain the viability of the businesses until they are successfully divested to Constellation, and to provide transition assistance to enable Constellation to operate the businesses along the same lines that Black Knight has operated them. The proposed consent order also requires ICE and Black Knight, for the next 10 years, to seek prior approval from the FTC before either reacquiring any divested asset or acquiring an interest in a loan origination system business.