It took 16 months after the deal was first announced, but Intercontinental Exchange Inc. completed its $11.9 billion acquisition of Jacksonville-based Black Knight Inc. in September 2023.
The deal was held up by antitrust issues, with the U.S. Federal Trade Commission expressing concerns that the merged company would have too large a share of the mortgage technology market.
Black Knight dominated the market for processing home loans in the U.S. The company’s final financial report showed it was processing 62% of all first mortgage loans.
Atlanta-based ICE, best known as operator of the New York Stock Exchange, has a mortgage technology division that dominated the market for processing loan originations, providing software for about half of all originations.
The FTC dropped its objections to the deal after the companies agreed to divest one Black Knight subsidiary that also processed mortgage loan originations and another Black Knight subsidiary that provided data to lenders.
Black Knight’s main business of processing loans for mortgage lenders traces its roots back 60 years to a Jacksonville company called Computer Power Inc.
ICE said it plans to maintain those Black Knight operations in Jacksonville after the merger.
Top Deals and Newsmakers of 2023
Here is a look at some of the biggest deals and people who made headlines in 2023.
Top Deals:
Cosentino Group plans $270 million first phase of manufacturing plant. Story here
Phoenix Arts & Innovation Districtlaunches in New Springfield. Story here
Blackwater Development says it has Regency Square Mall deal. Story here
Ponte Vedra Inn & Club wins approval to start expansion, renovations. Story here
‘Stadium of the Future’ plans are unveiled by the Jaguars. Story here
Gateway Jax plans $500 million Downtown project in NorthCore. Story here
Aldibuying Winn-Dixie, Harveys parent Southeastern Grocers.Story here
Regency Centersbuys Urstadt Biddle in $1.4 billion deal. Story here
Top Newsmakers:
Donna Deegan makes history as Jacksonville’s first female mayor. Story here
Bryan Moll poised to help revitalize Downtown with Gateway Jax. Story here
Nick Allard guides JU College of Law toward new Downtown campus.Story here
Aundra Wallace an assured but low-key leader in region’s growth. Story here
Suzanne Pickett: Advocate for city’s Historic Eastside. Story here
Obituaries of 2023:
Activist and community advocate Ben Frazier. Story here
Beaver Street Fisheries Chairman Hans ‘Harry’ Frisch. Story here
Civic leader and insurance executive Marvin Cecil 'Ceree' Harden III. Story here
