(Reuters) -The U.S. Federal Trade Commission on Thursday said it had secured a settlement resolving antitrust concerns over NYSE-owner Intercontinental Exchange's proposed purchase of data vendor Black Knight.
The FTC had initially expressed concern that the $11.7 billion deal, which combines the two top mortgage technology providers, would drive up costs, reduce innovation and limit lenders' choices.
"To address these concerns, the Commission's order provides structural relief and a variety of tools to preserve competition in these critical markets," Henry Liu, director of the FTC's Bureau of Competition, said in a statement.
The settlement ensures Black Knight's divestiture of Empower and Optimal Blue, two businesses that provide services in the mortgage origination process, the FTC said.
The two will be taken over by Constellation Software Inc unit Constellation Web Solutions Inc.
The FTC initially launched a lawsuit against the proposed deal but this month moved to drop it as the sides tried to negotiate a settlement.
(Reporting by Jasper Ward and David Ljunggren, editing by Chris Reese and Cynthia Osterman)
