Product and pricing engine software vendor Optimal Blue will be acquired by private equity firm GTCR in a deal that will place mortgage technology veteran Scott Happ in the role of CEO.

Financial terms of the sale were not disclosed, but the Chicago-based investor has committed up to $350 million in equity capital for growth initiatives and acquisitions at Optimal Blue, GTCR said in a June 16 news release. The deal is expected to close in mid-July.

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