A month after announcing an acquisition of Optimal Blue for nearly $2 billion, Black Knight Inc. was back in buying mode.
The company announced it had acquired DocVerify, a privately held company which delivers solutions that provide proof of the integrity of digital documents, enabling organizations across a wide range of industries to streamline processes, safeguard sensitive information and reduce costs.
Trasimene Capital Management served as the advisor to Black Knight. Terms of the acquisition were not announced.
In a press release, Black Knight said the acquisition helped accelerate its goal of digitizing the entirety of the real estate and mortgage continuum. DocVerify’s digital document verification capabilities already are integrated with Expedite Close, Black Knight’s digital closing platform.
“Black Knight and DocVerify are an exceptional strategic fit, given how our solutions and platforms complement one another,” Black Knight CEO Anthony Jabbour said in the release. “Digital documents are becoming the norm for conducting business in virtually all industries. Black Knight and DocVerify share a commitment to helping our clients move closer to a secure paperless environment through the digitization of the document validation process and a highly secure eNotary solution that our mortgage and real estate clients can leverage to offer a 100 percent digital closing. We look forward to welcoming the DocVerify team to Black Knight.”
DocVerify’'s suite of capabilities includes an eNotary platform supporting both in-person electronic notarization (IPEN) as well as remote online notarization (RON) and developer tools. All solutions are built on DocVerify’s proprietary VeriVault Verification Platform, which verifies the content, creator and creation date of any digital document to help eliminate the risk of forgery, fraud or theft.
With its acquisition of DocVerify, Black Knight “significantly enhances” its ability to support the widespread adoption of eNotary and eVault solutions in the mortgage and real estate industries and beyond, the release stated. Electronic and remote notarization serve as the backbone of eClosings, and DocVerify solutions easily integrate with virtually any eClosing system. The electronic document delivery and fulfillment capabilities of the Expedite Close platform enable lenders to leverage eSign and eDocument delivery and quality control audit capabilities from a single platform that supports a wet-sign, hybrid or full-digital close for all real estate closing participants.
“Both Black Knight and DocVerify are focused on developing innovative technologies that are versatile, easy-to-use and provide optimal security for our clients,” DocVerify founder and CEO Darcy Mayer said. “By combining the considerable strengths of Black Knight and DocVerify, this acquisition will benefit clients of both companies, as well as the industries we serve.”