A newly created mortgage service provider powerhouse has been formed that will provide technology, data and analytics to the real estate finance industry.
The launch of the new firm, Black Knight Financial Services Inc., was announced Friday by parent Fidelity National Financial Inc.
Black Knight was created through the consolidation of existing Fidelity National subsidiaries with help from entities tied to an investment fund.
The subsidiaries are ServiceLink Holdings LLC and Lender Processing Services Inc.
Fidelity announced Thursday that it completed the acquisition of LPS, which has been reorganized and renamed Black Knight Financial Services LLC.
The investors in the transaction are funds affiliated with Thomas H. Lee Partners LP and certain related entities.
Thomas H. Lee Partners has taken a 35 percent interest each in ServiceLink and the former LPS unit.
Tom Sanzone has been named chief executive officer of Black Knight Financial Services LLC, and Christ Azure is the CEO of ServiceLink. Both report directly to Fidelity National Chairman William P. Foley II.
