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Jacksonville-Based Black Knight Joins Deal To Buy Dun & Bradstreet

FISbuilding.jpg
Mathew105601
/
Wikimedia Commons
Black Knight's Jacksonville headquarters on Riverside Ave. is pictured.

Jacksonville-based Black Knight Inc. said Monday it will join Cannae Holdings Inc. and several other investment firms in a partnership that is buying business data firm Dun & Bradstreet.

Our Jacksonville Daily Record news partner reports Cannae announced in August it was leading a group that agreed to buy Dun & Bradstreet for $6.9 billion, including the assumption of debt.

Mortgage technology firm Black Knight and investment company Cannae were both spun off from Jacksonville-based title insurance company Fidelity National Financial Inc.

Bill Foley, who already serves as chairman of Fidelity, Black Knight and Cannae, plans to become executive chairman of Dun & Bradstreet when the sale is complete, which is expected in the first quarter of 2019.

Black Knight said Monday that its CEO, Anthony Jabbour, will become CEO of Dun & Bradstreet while he continues his role at Black Knight.

Black Knight said it will invest $375 million in Dun & Bradstreet, which will give it less than 20 percent ownership of the company.

Cannae expects to own 25 percent once the deal is complete.

Other partners in the deal include investment firms CC Capital and Thomas H. Lee Partners.

“We are pleased that Black Knight will invest alongside us in Dun & Bradstreet and that both Anthony and Bill will take on these new roles upon closing. We are confident that they are the right leaders to help unlock the significant potential within this venerable company,” CC Capital founder Chinh Chu said in a news release.

Photo used under Creative Commons license.