- eLynx helps clients in the financial services and real estate industries electronically capture and manage documents and associated data throughout the document lifecycle.
- Black Knight purchased eLynx to augment its robust origination technologies.
- Acquisition positions Black Knight to electronically support the full mortgage origination process.
JACKSONVILLE, Fla. – May 16, 2016 – Black Knight Financial Services, Inc. (NYSE: BKFS), a leading provider of premier technology, data and analytics across the mortgage loan lifecycle, announced today that it has acquired eLynx, a portfolio company of American Capital Ltd. (NASDAQ: ACAS).
eLynx solutions help automate paper-intensive processes, improve workflow, reduce costs and support compliance with industry regulations. Black Knight supports many of the nation’s largest mortgage lenders and servicers with a comprehensive, integrated solution suite. With the addition of eLynx’s capabilities to Black Knight’s current offerings, Black Knight will now offer lender clients:
- A flexible document delivery platform, which securely facilitates interchange between consumers, lenders, title providers and other transaction participants either electronically or via proprietary, integrated print and mail capabilities;
- A private-labeled, mobile-friendly consumer portal to support process transparency; collect and deliver documents throughout the loan lifecycle; and schedule inspections and closings;
- Connectivity to an industry-leading network of settlement agents; and
- Support for data-validated electronic mortgage, including electronic document delivery (eDelivery), eSignature, eClosing, and eRecording as well as electronically registering and submitting the mortgage note to an electronic vault.
“This is an exciting step for Black Knight as we announce our first acquisition as a publicly traded company,” said Black Knight Executive Chairman Bill Foley. “Over the last two-and-a-half years, we have successfully implemented our business plan to restructure the company and develop a strong cross-selling organization. It is now time to begin executing our acquisition strategy to accelerate our growth profile and fill out our product offerings.”
“Integrating the strengths of Black Knight and eLynx will give clients an even sharper competitive edge, and will significantly expand Black Knight’s opportunities to cross-sell our comprehensive solutions,” said Black Knight President and CEO Tom Sanzone. “We believe this combination will continue to drive process standardization and efficiency throughout the loan lifecycle, and will positively impact industry initiatives focused on TRID, consumer advocacy and eMortgage adoption.”
“We are excited to become part of Black Knight, a company well known for providing leading technology to the mortgage industry,” said Sharon Matthews, CEO of eLynx. “I am confident eLynx and Black Knight clients will benefit from the combination of our powerful technologies and mutual commitment to delivering innovative solutions to the mortgage industry.”
Conference Call and Audio Webcast
Black Knight will host a conference call on Monday, May 16, at 4:00 p.m. ET to discuss the eLynx acquisition. The conference call can be accessed live over the phone by dialing (877) 407-4018, or for international callers (201) 689-8471. A replay will be available from 8:00 p.m. ET on May 16, 2016, through May 23, 2016, and can be accessed by dialing (877) 870-5176, or for international callers (858) 384-5517, and entering replay passcode 13637422. The call will also be webcast live from Black Knight's investor relations website at http://investor.bkfs.com
. Following completion of the call, a recorded replay of the webcast will be available on the website.
About Black Knight Financial Services, Inc.
Black Knight (NYSE: BKFS), a Fidelity National Financial (NYSE:FNF) company, is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight is committed to being the premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.bkfs.com
This 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: electronic 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 impact our and our customers’ businesses; our ability to adapt our services to changes in technology or the marketplace; the impact 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;” 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.
Media Contact: Michelle Kersch, 904.854.5043, Michelle.Kersch@BKFS.com
Investor Contact: Kirk Larsen, 877.880.1990, Kirk.Larsen@BKFS.com