Beruflich Dokumente
Kultur Dokumente
http://www.nationalmortgagenews.com/news/technology/pe-firm-t...
TECHNOLOGY
Product and pricing engine software vendor Optimal Blue will be acquired by private equity firm
GTCR in a deal that will place mortgage technology veteran Scott Happ in the role of CEO.
Financial terms of the sale were not disclosed, but the Chicago-based investor has committed
up to $350 million in equity capital for growth initiatives and acquisitions at Optimal Blue, GTCR
said in a news release Thursday. The deal is expected to close in mid-July.
"From a high-level perspective, we're looking at mortgage technology solutions that will
enhance Optimal Blue's existing network and other solutions that will assist in the loan
origination process," GTCR Managing Director Aaron Cohen said in an interview.
Happ founded Mortgagebot in 1997 and ran the point of sale system vendor as CEO until it was
1 of 2
7/25/16, 9:25 AM
http://www.nationalmortgagenews.com/news/technology/pe-firm-t...
key in describing that process to auditors and regulators," Huff added in an interview. "As the loan is processed and underwritten and
eventually hedged and sold, it takes on different characteristics. We're able to describe those characteristics."
Taking the reins at Optimal Blue marks Happ's first major foray back into the mortgage technology sector since he left Mortgagebot
at the end of 2012 following its acquisition of loan origination system vendor Avista Solutions. DH Corp has since combined the
Mortgagebot and Avista systems to create a single, end-to-end LOS.
In 2014, Happ joined ExactBid as board chairman and joined the board of ClosingCorp earlier this year.
GTCR was advised by Stephens Inc. and Optimal Blue was advised by FT Partners.
2 of 2
7/25/16, 9:25 AM