Black Knight Financial Services, a Jacksonville, Fla., mortgage technology company, has acquired Motivity Solutions, the companies announced.
Black Knight's products include the most-used loan servicing system, as well as two loan origination systems. Motivity Solutions, of Aurora, Colo., provides mortgage lenders with business intelligence analytics technology designed to improve sales and operations performance.
This is Black Knight's second acquisition since it was spun out of Fidelity National Financial. In May it bought the electronic mortgage document company eLynx.
"Acquiring the capabilities of Motivity Solutions will accelerate Black Knight's delivery of our Active Insight platform and Data Hub initiative. 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," Tom Sanzone, Black Knight's president and CEO, said in a press release Wednesday.
Motivity Solutions' offerings will be integrated with Black Knight's LoanSphere product suite.
In March, Todd Sherman, Motivity's president and a co-founder, died unexpectedly.
"We were committed to finding a buyer that shares our passion for using business intelligence to drive superior operating results," Motivity co-founder Tyler Sherman, Todd Sherman's brother and the company's CEO, said in the press release.
Also on Wednesday, Black Knight's chairman, William Foley, was awarded a National Hockey League expansion franchise that will play in Las Vegas beginning in the 2017-18 season. Foley's ownership of the team is through an entity called Black Knight Sports and Entertainment that is unrelated to the similarly named technology firm.
The price of the Motivity deal was not disclosed.