Report: Optimal Blue could sell for $1 billion

Optimal blue is on the market, according to a news report Barrons.

The publication reported last night that the owner of Optimal Blue, GTC, is preparing to offer for sale Optimal Blue of Plano, Texas. Barron’s cited unnamed bankers and private equity executives who were “familiar with the situation.”

Chicago-based private equity firm GTCR acquired Optimal Blue in a leveraged buyout almost four years ago for $350 million, sources say crunch base. The company is expected to be sold for $1 billion, Barron’s said.

Optimal Blue’s online marketplace aims to connect originators, investors and providers in the mortgage industry. More than $750 billion worth of transactions are processed through the platform each year, facilitating a range of secondary market interactions such as pricing, locking, hedging and trading of mortgage loans.

The company was once primarily focused on building products that help mortgage lenders comply with federal fair lending laws and regulations. But it now describes itself as “the premier provider of secondary marketing solutions and data services in the mortgage industry.”

Founded in 2002, Optimal Blue raised $22.4 million in venture capital in 2013. Today, according to Barron’s, the marketplace has more than 213,000 users and creates more than 240 million price offers per year. It has annual sales of $110 million.

Neither GTCR nor Optimal Blue have yet responded to requests for comment.


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