Black Knight Financial Services, a Jacksonville, Fla.-based mortgage technology company, has acquired Motivity Solutions, the companies announced. The price was not disclosed.
Black Knight's products include the most-used loan servicing system, as well as two loan origination systems, while Motivity Solutions, which is headquartered in Aurora, Colo., provides mortgage lenders with business intelligence analytics technology designed to improve sales and operations performance.
This is Black Knight's second acquisition since it was spun out of Fidelity National Financial. In May, it bought electronic mortgage document company eLynx.
"Acquiring the capabilities of Motivity Solutions will accelerate Black Knight's delivery of our Active Insight platform and Data Hub initiative. For our clients, these new capabilities will offer unique views into the types of information they need to drive peak performance and more effectively assist our customers in managing their regulatory risk," said Black Knight President and CEO Tom Sanzone in a press release.
Motivity Solutions' offerings will be integrated with Black Knight's LoanSphere Product Suite.
In March, Todd Sherman, Motivity Solutions' president and co-founder, died unexpectedly.
"We were committed to finding a buyer that shares our passion for using business intelligence to drive superior operating results," Tyler Sherman, Todd Sherman's brother and Motivity CEO and co-founder, said in the press release.
Also on Wednesday, Black Knight's chairman, William Foley, was awarded a National Hockey League expansion franchise that will play in Las Vegas beginning in the 2017-2018 season. Foley's ownership of the team is through an entity called Black Knight Sports and Entertainment that's unrelated to the similarly named technology firm.