The Globe and Mail reports in its Tuesday, July 18, edition that Constellation Software has agreed to pay $700-million for the Optimal Blue unit of Black Knight (all figures U.S.). The Globe's Jameson Berkow writes that Constellation Software's Perseus operating group will pay $200-million in cash for Optimal Blue, which provides data services to the mortgage industry, and will finance the rest with a $500-million, 40-year promissory note at 7-per-cent interest. The transaction, however, is contingent upon Intercontinental Exchange (ICE), which owns the New York Stock Exchange, first closing its $11.7-billion acquisition of mortgage software provider Black Knight, a deal that is far from certain. That is because Black Knight will only sell Optimal Blue to Constellation after it becomes a subsidiary of ICE. Because ICE acquired mortgage automation company Ellie Mae from Thoma Bravo for $11-billion in 2020, owning Black Knight would make ICE the largest mortgage software provider in the country. In April, citing antitrust concerns, the U.S. Federal Trade Commission petitioned a federal court in northern California to temporarily block the ICE-Black Knight deal. A hearing on the matter is scheduled for July 24.