A trio of top leaders at Optimal Blue have exited the company several weeks after Constellation Software closed on the purchase from Black Knight, the new owners confirmed.
“Three members of our senior leadership team have made independent decisions to pursue other opportunities outside of Optimal Blue,” according to a statement attributed to Scott Smith, who takes over as interim CEO. “This includes Kevin McMahon, CEO; Ed Batt, vice president of sales; and Matt Cesarz, chief technology officer. Each leader is committed to ensuring a smooth transition so Optimal Blue can continue delivering the top-tier service and innovation our clients expect.”
Intercontinental Exchange finalized the purchase of Black Knight on Sept. 5. It wasn’t until 10 days later that Constellation closed on the separate deals for Optimal Blue and Empower. The departures were first reported in HousingWire.
Smith’s full-time position is as co-president of the Romulus portfolio at Perseus Group of Constellation Software.
Optimal Blue is working to fill the position as soon as possible while taking care to find the right person, a company statement said, adding Smith is committed to staying in the role as long as needed to ensure a seamless transition.
Besides Optimal Blue, the Romulus portfolio at Perseus Group of Constellation Software is the parent of what is now called Dark Matter Technologies, which houses the Empower loan origination system and artificial intelligence technology Aiva; its former name was Black Knight Origination Technologies.
Plans are for the Optimal Blue product and pricing engine to remain separate from Dark Matter, Constellation previously said.
At a recent wrap-up conference call by Intercontinental Exchange, who was required to divest Optimal Blue in order to complete the Black Knight deal, it was disclosed the parties entered into a 10-year commercial agreement regarding the product and pricing engine.
But on the same call, ICE said it is investing in upgrading its own product and pricing engine that exists in the Encompass loan origination system.