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Black Knight to Acquire Top of Mind Networks, Adding AI-Driven Marketing Automation to Integrated Mortgage Technology Ecosystem

Surefire from Top of Mind - Leading CRM Platform for the Mortgage Industry - to be Integrated with Black Knight Solutions to Help Drive Lender Growth and Retention

Black Knight, Inc. Logo (PRNewsfoto/Black Knight, Inc.)

News provided by

Black Knight, Inc.

May 28, 2021, 08:00 ET

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JACKSONVILLE, Fla., May 28, 2021 /PRNewswire/ -- Today, Black Knight, Inc. (NYSE: BKI), an award-winning software, data and analytics provider to the mortgage and consumer loan, real estate and capital markets verticals, announced it has entered into a definitive agreement to purchase Top of Mind Networks (Top of Mind), developer of Surefire, a leading customer relationship management (CRM) and marketing automation system for the mortgage industry, for approximately $250 million in cash. Top of Mind was previously majority owned by Primus Capital, with significant minority ownership by the company's original founders.

"Through its Surefire marketing automation and CRM platform, Top of Mind has brought incredible value to the sales and marketing side of the mortgage industry by helping lenders gain powerful competitive advantages for their loan officers," said Anthony Jabbour, CEO, Black Knight.  "Integrating Surefire's capabilities within the wider Black Knight mortgage technology ecosystem will make it possible for lender clients of all sizes to close more loans and create customers for life."

The Surefire platform helps thousands of mortgage professionals – from individuals, to mid-sized firms, to enterprises – win new and repeat business. Its intuitive, automated workflows and award-winning personalized content inspire emotional connections with customers, helping to increase sales and improve recapture and retention. Unique workflows with relevant, rich content categories are easily deployable across all marketing channels, while out-of-the-box integrations provide interconnectivity to major loan origination systems, CRMs, points of sale, lead sources and sales acceleration systems.

"Top of Mind and Black Knight are a great strategic fit because we both share a passion for delivering innovation, adding value and driving growth for our clients," said Top of Mind CEO Bill Hayes. "Our team is looking forward to working with Black Knight to help lenders and servicers create customers for life by engaging their customers with timely communications and highly personalized touchpoints, while helping clients stay compliant in their marketing efforts."

Black Knight will initially focus on integrating Surefire with its Empower loan origination system (LOS) and enhancing integrations with its Optimal Blue PPE (product, pricing and eligibility engine) before creating new connections and integrations to serve both lenders and servicers. Future development will include growth opportunities for servicers' borrower retention via Servicing Digital and Realtor lead development for lenders through Black Knight's Paragon MLS platform.

Overview of Offerings
Top of Mind solutions modernize mortgage workflow, compliance and the digital customer experience. To enable lenders and mortgage professionals to create customers for life by cultivating and maintaining customer relationships, the Top of Mind Surefire platform:

  • Extends and enriches existing channels by supporting lead generation through integrations with point-of-sale platforms, social media and web sites; instant lead routings; automatic database updates; and partner channel integration.
  • Converts leads to applications with speed, helping clients maintain a competitive edge and convert leads with best-in-class tools; prospect workflows; immediate lead follow-up; and AI-driven prospect targeting.
  • Helps lenders close more loans by automatically educating and assisting clients through the loan process via dedicated educational workflows; credit repair guides; and automated communications.
  • Maximizes repeat and referral business by cultivating and maintaining customer relationships; providing client listing alerts; personalizing follow-up content; and initiating post-close campaigns.
  • Provides an unparalleled customer experience through education, timely content, additional materials to guide their borrowing journey, and offers of help throughout the application process.
  • Creates a seamless customer experience by delivering the same interactive, engaging marketing content through mobile devices.
  • Develops and delivers the right message by using creative content via prospects' or customers' medium(s) of choice.

"The acquisition of Top of Mind is a continuation of our strategy to deliver innovative solutions to our clients that will help them achieve their strategic priorities," Jabbour added. "Our combined clients will be able to access additional market-leading offerings from a single, trusted provider, while we will be able to further expand Black Knight's opportunities to cross-sell our solutions through Top of Mind's broad reach among more than 850 commercial banks, mortgage banks, credit unions and mortgage brokerage companies."

Transaction Details
The transaction is expected to close in the third quarter of 2021, subject to customary closing conditions and regulatory review. Black Knight anticipates the acquisition of Top of Mind will contribute approximately $13 million in incremental revenue to Black Knight's Origination Software business in the second half of 2021, subject to transaction timing.

Trasimene Capital Management acted as the financial advisor, and Smith Hulsey & Busey acted as legal advisor, to Black Knight.

Vaquero Capital acted as financial advisor, and Goodwin Procter LLP acted as legal advisor, to Top of Mind.

Further Details
Further details regarding the acquisition will be discussed on Black Knight's upcoming second quarter 2021 earnings call in August. The date and time of the earnings call will be announced in mid-July.

About Black Knight 
Black Knight, Inc. (NYSE:BKI) is an award-winning software, data and analytics company that drives innovation in the mortgage lending and servicing and real estate industries, as well as the capital and secondary markets. Businesses leverage our robust, integrated solutions across the entire homeownership life cycle to help retain existing customers, gain new customers, mitigate risk and operate more effectively. 

Our clients rely on our proven, comprehensive, scalable products and our unwavering commitment to delivering superior client support to achieve their strategic goals and better serve their customers. For more information on Black Knight, please visit www.blackknightinc.com. 

Forward-Looking Statements
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: satisfaction of the conditions to closing the acquisition of Top of Mind Networks, LLC and consummate the transaction, including the receipt of regulatory approvals; changes in general economic, business, regulatory and political conditions, including those resulting from pandemics such as COVID-19, particularly as they affect foreclosures and the mortgage industry; the outbreak of COVID-19 and measures to reduce its spread, including the effect of governmental or voluntary actions such as business shutdowns and stay-at-home orders; security breaches against our information systems; our ability to maintain and grow our relationships with our clients; changes to the laws, rules and regulations that affect our and our clients' businesses; our ability to adapt our services to changes in technology or the marketplace or achieve our growth strategies; our ability to protect our proprietary software and information rights; the effect of any potential defects, development delays, installation difficulties or system failures on our business and reputation; risks associated with the availability of data; the effects of our existing leverage on our ability to make acquisitions and invest in our business; our ability to successfully integrate strategic acquisitions; risks associated with our investment in Dun & Bradstreet Holdings, Inc.; 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.

For more information:




Media:  

Investors:

Michelle Kersch     

Steve Eagerton

904.854.5043        

904.854.3683

[email protected]   

[email protected]

SOURCE Black Knight, Inc.

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