Black Knight Financial Services announcedWednesday that it is continuing its recent expansion efforts with the acquisition of Motivity Solutions, which provides customized mortgage business intelligence analytics to mortgage lenders.
The Motivity Solutions acquisition comes just over a month after Black Knight announced plans to acquire eLynx, which provides companies in the real estate and financial services industries with the ability to electronically capture and manage documents and associated data throughout the document lifecycle.
At the time, Black Knight said that the eLynx acquisition would enable the company to “electronically support the full mortgage origination process.”
Now, Black Knight is increasing its technological capabilities and offerings with the acquisition of Motivity Solutions, which, according to a release from Black Knight, provides “comprehensive business intelligence that helps lenders more effectively manage and understand their data, better support regulatory compliance and increase understanding and management of their performance compared to industry peers.”
According to Black Knight, the Motivity Solutions offerings will be integrated with Black Knight's LoanSphere Product Suite, including the LoanSphere Data Hub, which will provide clients with insights into their origination and servicing operations and portfolios.
These business intelligence solutions will deliver actionable information to help improve compliance, sales and operations, as well as provide executive management insights, Black Knight said.
"Acquiring the capabilities of Motivity Solutions will accelerate Black Knight's delivery of our Active Insight platform and Data Hub initiative,” said Black Knight President and CEO Tom Sanzone.
“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,” Sanzone added. “This acquisition of Motivity Solutions further demonstrates our drive to accelerate our growth and deliver the additional capabilities our customers want.”
For Motivity, the sale brings a sad chapter in the company’s history to a close.
Earlier this year, Todd Sherman, co-founder and president of Motivity, died unexpectedly at the age of 45.
According to a company letter sent out to clients and partners by fellow co-founder Tyler Sherman, who is also Todd’s brother, Todd passed away in March from a heart attack suffered while exercising.
“People say things happen for a reason and that there is a master plan for everything, no matter how tragic. I think that is something that people say to explain the unexplainable. I cannot accept that. This was a senseless and random tragedy,” Tyler said in a letter he wrote for Todd’s website.
“I have lost my brother, my best friend, and my inspiration, and Todd made me the man and father I am today,” Tyler added. “The world has lost the most amazing husband, father, brother, son, friend and human being. He left behind a legacy and spirit that will forever be the foundation of the Sherman Family.”
In the release from Black Knight, Tyler Sherman, who is Motivity’s CEO, said that the company looked for a buyer that had a similar vision for the future as Motivity.
“We were committed to finding a buyer that shares our passion for using business intelligence to drive superior operating results. We found what we were looking for with Black Knight,” Sherman said. “Together, we are going to help our customers achieve superior results with innovative solutions and unparalleled insight.”
Terms of the deal were not disclosed.