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    CBOE   US12503M1080

CBOE GLOBAL MARKETS, INC.

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Cboe Global Markets : Intercontinental Exchange To Acquire Simplifile For $335M

05/01/2019 | 06:18pm EDT


Intercontinental Exchange To Acquire Simplifile For $335M

Benzinga Newsdesk      5/1/2019 4:40:10 PM

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that it has entered into a definitive agreement to acquire Simplifile, LC. Simplifile operates one of the largest networks connecting the agents and jurisdictions that underpin residential mortgage records, serving as an electronic liaison between lenders, settlement agents, and county recording offices, streamlining the local recording of residential mortgage transactions. 

As a pioneer in helping its customers submit electronic documents into the public record, the acquisition of Simplifile expands the ICE Mortgage Services portfolio, which includes MERS. Simplifile and MERS support the residential lending industry's shift to digitization and will, together, help to make the mortgage closing process simpler, faster, and more transparent for a range of industry stakeholders. 

ICE will pay $335 million to acquire Simplifile, which is based in Provo, Utah and has no debt. The transaction is expected to close in the third quarter of this year, subject to the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. ICE does not expect the transaction to have any impact on its previously announced capital return plans. Upon closing, Simplifile, which has approximately 200 employees, will continue to be based in Provo and operate under the Simplifile name. 
 


Disclaimer

CBOE Holdings Inc. published this content on 01 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 May 2019 22:17:04 UTC


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Managers and Directors
NameTitle
Edward Thomas Tilly Chairman, President & Chief Executive Officer
Brian N. Schell Chief Financial Officer, Treasurer & Executive VP
Eric Crampton Chief Technology Officer & Senior Vice President
Christopher A. Isaacson Chief Operating Officer & Executive VP
Janet P. Froetscher Independent Director
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