Black Knight Financial Services, a mortgage data and solutions provider, unveiled it is rebranding as Black Knight in light of Fidelity National Financial’s distribution of its equity interest in it.
“Black Knight is ready to move forward as an independent company and continue producing results that exceed expectations for our clients, shareholders and employees,” said Black Knight Executive Chairman Bill Foley.
The move follows an announcement back in June that Fidelity National Financial and Black Knight Financial Services signed formal agreements for FNFI to distribute all 83.3 million shares of Black Knight Financial Services common stock that it currently owns to FNF Group stockholders. Fidelity National Financial is organized into two groups, FNF Group and FNFV Group. A complete breakdown of the stock distribution can be found here.
The planned distribution of FNF’s equity interest in Black Knight Financial Services to the holders of FNF group common stock is slated to finish on Sept. 29, 2017.
And as a result of a series of transactions, a new publicly traded company, Black Knight, (formerly known as Black Knight Holdco Corp.) will become the new public parent of Black Knight Financial Services.
With the change, Black Knight, Inc.’s common stock will trade on the NYSE under the ticker symbol BKI.
“Strategically, Black Knight will remain laser-focused on delivering our software and data and analytics capabilities through our integrated platforms, and developing innovative solutions that help our clients solve their most significant challenges and further our leadership in the industry,” said Foley.