Fidelity National Financial, Inc. (FNF: Quote) announced the reorganization of the former Lender Processing Services, Inc. or LPS businesses, the formation of a wholly-owned subsidiary called Black Knight Financial Services, Inc.
The company also announced the issuance of a 35% interest in each of Black Knight's two operating subsidiaries, ServiceLink Holdings, LLC and Black Knight Financial Services, LLC or BKFS, to funds affiliated with Thomas H. Lee Partners, L.P. and certain related entities.
Black Knight, through ServiceLink and BKFS, now owns and operates the former LPS businesses and FNF's ServiceLink business. FNF's core operating subsidiaries now consist of Fidelity National Title Group, Inc. and Black Knight.
BKFS consists of LPS' former technology, data and analytics businesses and the technology offerings previously owned by FNF's ServiceLink division, the company noted.
FNF stated that Tom Sanzone will be the CEO of BKFS and Chris Azur will be the CEO of ServiceLink.
Tom joined FNF in 2013 and has more than 25 years of experience in the financial services industry and Chris was the President of FNF's ServiceLink division and has more than 20 years of experience in the mortgage transactions services business.
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by RTT Staff Writer
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