ICE builds mortgage platform with Ellie Mae and Black Knight (2020-2023)
Intercontinental Exchange, which owns the New York Stock Exchange, bought mortgage software firm Ellie Mae for $11 billion in 2020 and rival Black Knight for $11.9 billion in 2023. The goal was an end-to-end mortgage technology platform spanning origination, servicing, and data.
ICE became one of the largest mortgage technology providers in the U.S., with software touching millions of loans.
The consolidation showed that fragmented mortgage tech could be unified under one owner, setting a precedent for platform-building through acquisition.
ICE's strategy mirrors PLACE's approach: consolidate fragmented mortgage technology through acquisition to build a connected platform.
