Optimal Blue Transitions to New Ownership
PLANO, TX – Optimal Blue, the premier cloud-based provider of enterprise lending services to the mortgage industry, announced today that it has been acquired by GTCR, a leading private equity firm. It was also announced that Founders and co-CEO’s, Larry Huff and Ivan Darius, will be transitioning leadership of Optimal Blue to Scott Happ, Founder and former CEO of Mortgagebot. Happ will join Optimal Blue as Chief Executive Officer at close. Sue Baker, a former Senior Vice President at Mortgagebot, will join Happ as Vice President of Product. The management team will stay in place. GTCR will work with Happ, Baker and Optimal Blue’s management team to expand the Company’s strong network offerings and further invest in its technology. The transaction is expected to close in the next four weeks. Huff and Darius will remain involved with Optimal Blue as consultants and ensure a seamless transition to Happ.
GTCR has committed up to $350 million of equity capital to the investment, to pursue growth initiatives at Optimal Blue, as well as complementary acquisitions to provide information and other digital services to the mortgage marketplace.
“I’ve had the great fortune to work with and serve the best customers, employees and partners one could imagine,” said Larry Huff, Co-Founder and Co-CEO. “I also would like to recognize the great partners we have at Serent Capital. Kevin Frick, Lance Fenton, and the others have been incredibly supportive partners and invaluable to the success at Optimal Blue. It has been an incredibly rewarding experience, and I look forward to my continued involvement.”
“Adding industry veterans Scott and Sue and the GTCR resources will turbo-charge the performance of the incredibly talented team assembled at Optimal Blue,” added Ivan Darius, Co-Founder and Co-CEO.
About Optimal Blue
Optimal Blue is the premier cloud-based provider of managed-content, enterprise lending services including product eligibility and pricing (PPE), secondary marketing, consumer engagement, data and analytics, and compliance services. Based in Plano, Texas, Optimal Blue has developed an enterprise class suite of products and services designed to automate a lender’s complex processes, improving efficiency and profitability while gaining a competitive advantage. With a 99.999% accuracy rate, Optimal Blue technology connects hundreds of investors with more than 1,500 financial institutions and currently touches nearly 1 of every 4 mortgage loans originated nationally.
For more information, please visit www.optimalblue.com.
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