Does This Company's Acquisition Make It a Sell?
Intercontinental Exchange (NYSE: ICE), known as ICE, recently announced that it would acquire Black Knight (NYSE: BKI) to expand its mortgage technology business. The move was announced ahead of rising interest rates telegraphed by the Federal Reserve. Will rising interest rates harm its target company, or will ICE have the last laugh?
On May 4, ICE said it had agreed to buy real estate company Black Knight. ICE made the bold move to fill in the gaps in its mortgage technology segment, which it built by acquisitions of loan origination software company Encompass and closing funding, compliance, and record-keeping companies Simplifile and MERS.
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Source Fool.com
