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TitlePoint, which is part of Black Knight's Data & Analytics segment, enables searches for detailed property information, images of documents, and maps from hundreds of counties across the U.S. that help title insurance underwriters, title agents, and closing attorneys quickly compile title-search packages to support the safe transfer and financing of real property.
Since acquiring the business in 2014, Black Knight has continually enhanced and advanced the technological capabilities and coverage of TitlePoint, the company said.
When Black Knight acquired TitlePoint in 2014, it had granted FNF a right to repurchase the entity “in the event of a change of control in Black Knight.” With Intercontinental Exchange Inc. (ICE) announcing in May 2022 a deal to acquire Black Knight, FNF notified Black Knight that it wants to reacquire TitlePoint.
Black Knight said the sale of TitlePoint to FNF is not conditioned on ICE completing its acquisition of Black Knight.
Fidelity National Financial Inc. provides title insurance and transaction services to the real estate and mortgage industries and insurance solutions for retail annuity and life customers and institutional clients through its wholly owned subsidiary, F&G Annuities & Life Inc.
"The acquisition of TitlePoint is just one more way FNF is investing in, expanding, and integrating property data, images, and search technology into FNF's existing assets," said FNF CEO Mike Nolan. "Combined with other FNF digital technologies, this acquisition improves productivity and automation, and streamlines the manufacturing of title plant information across our industry leading footprint."
Black Knight CEO Joe Nackashi said the transaction “enables us to focus our investments in our mortgage-specific software and our core data and analytics capabilities, while also reducing our revenues that are sensitive to origination volumes."
The transaction is subject to customary closing conditions and is expected to close in December, Black Knight said.