Less than a month after Constellation Software acquired Optimal Blue, three members of its senior leadership have departed the firm.
Optimal Blue is Constellation’s product and pricing engine unit that was previously part of Black Knight.
Black Knight and Intercontinental Exchange (ICE) agreed to sell Optimal Blue as well as loan origination system, Empower, to Constellation in an effort to save the merger deal. ICE completed the acquisition of Black Knight for $11.9 billion in September.
“Acquisitions commonly prompt change and leadership transitions, and our integration into Constellation is no exception,” the Optimal Blue Communications team wrote in an email sent to its clients on Tuesday.
Kevin McMahon, CEO of Optimal Blue; Ed Batt, VP of sales at Optimal Blue; and Matt Cesarz, chief technology officer at Optimal Blue, made independent decisions to pursue other opportunities outside of the company, according to the email.
“Each leader is committed to ensuring a smooth transition so we can continue delivering the top-tier service and innovation you expect from Optimal Blue,” the Optimal Blue Communications team added.
McMahon served as CEO of Optimal Blue from January 2023 before getting promoted from VP of client services and hedging solutions in October 2021.
Batt served as VP of sales for more than six years since January 2017, and Cesarz was chief technology officer for more than seven years, their LinkedIn profiles show.
Constellation’s Optimal Blue didn’t respond to HousingWire’s request for comment.
Scott Smith, co-president of Romulus portfolio at Perseus Group of Constellation Software, will serve as the interim leader of Optimal Blue until a CEO is named, according to the client email.
Correction at 9:30 a.m. on Oct. 4, 2023: The initial version of this article misidentified Optimal Blue as being part of Black Knight Origination Technologies (now Dark Matter Technologies); they are separate businesses owned by Constellation.
