Skip to main content

Ellie Mae Acquired for $3.7B by Private Equity Firm

Phil Hall
Feb 12, 2019
Pleasanton, Calif.-based Ellie Mae has announced its acquisition of Capsilon, a provider of AI-powered mortgage automation software for mortgage lenders, investors and servicers

Ellie Mae, a Pleasanton, Calif.-based cloud-based platform provider for the mortgage finance industry, has been acquired by Thoma Bravo LLC, a private equity investment firm, in an all-cash transaction valued at $3.7 billion.
Ellie Mae, a Pleasanton, Calif.-based cloud-based platform provider for the mortgage finance industry, has been acquired by Thoma Bravo LLC
 
Under the terms of the agreement, all Ellie Mae shareholders will receive $99 in cash per share. The agreement also includes a 35 day “go-shop” period that enables Ellie Mae to solicit and enter negotiations with parties that make alternative acquisition proposals. Ellie Mae’s Board of Directors unanimously approved the definitive agreement and recommended that stockholders vote their shares in favor of the transaction. Ellie Mae’s headquarters will remain in Pleasanton, Calif., with regional offices across the United States. Closing of the transaction is subject to approval by Ellie Mae stockholders and regulatory authorities and the satisfaction of customary closing conditions. The transaction is expected to close in the second or third quarter of 2019 and is not subject to a financial condition.
 
“Since the founding of Ellie Mae more than 20 years ago, our mission has been simple–to automate everything automatable for the residential mortgage industry,” said Jonathan Corr, President and Chief Executive Officer of Ellie Mae. “As we enter this next phase of our digital mortgage journey, we are thrilled to provide immediate value to our shareholders. With the investment and support from Thoma Bravo, we will remain committed to our customers’ success, innovation and growth of the Encompass Digital Lending Platform while maintaining our position as a best place to work.”
 
Holden Spaht, a Managing Partner at Thoma Bravo, said, “Ellie Mae delivers powerful and innovative mortgage technology solutions across every channel of the residential mortgage sector, enabling lenders to originate more loans while reducing costs and driving efficiency, quality and compliance throughout the mortgage process. Ellie Mae is leading the digital transformation of the residential mortgage industry and we look forward to building on the company’s successes and to our partnership through this next chapter of growth.”

 
Published
Feb 12, 2019
More from
Tech
E-Closing Technology: Norcom Mortgage’s Implementation Lessons

Norcom Mortgage outlines its implementation lessons learned as the company transitioned to its digital experience.

Tech
Sep 17, 2021
New York Community Bank Creates Groundbreaking Digital Payment Process

Now Figure Technologies Inc. can conduct real-time secondary trading in digital shares of its stock by utilizing Figure’s alternative trading system (ATS) that operates on Provenance Blockchain.

Tech
Sep 14, 2021
NAMB Partners With Dell Technologies

Offers Discounts To Members To Help With Technology Upgrades

Tech
Sep 13, 2021
Notarize And Snapdocs Announce Partnership

Notarize and Snapdocs, Inc. entered a partnership in which brings two digital closing companies together in hopes to further streamline the closing process.

Tech
Sep 09, 2021
Hold The Phone: Agile Formally Launches Platform For TBA MBS Quotes

Trade Auction Manager Allows Small to Mid-Size Broker Dealers To Quote Digitally

Tech
Sep 09, 2021
SimpleNexus Approved As eClosing Solution Provider For Both GSEs

SimpleNexus, a homeownership platform developer, is now a Fannie Mae- and Freddie Mac-reviewed eClosing solution provider.

Tech
Sep 07, 2021