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Ellie Mae officially sold for $3.7 billion


Private equity company Thoma Bravo has completed an all-cash acquisition of Ellie Mae, which provides cloud-based services for a large portion of the mortgage finance industry.

The move takes the California-based Ellie Mae to the private sector, with its shareholders receiving $99 per share and its listing on the New York Stock Exchange ending. Thoma Bravo initiated its $3.7 billion purchase of Ellie Mae in February.

“The closing of this transaction represents the beginning of the next chapter in our digital mortgage journey as we work toward our North Star of automating everything automatable for the residential mortgage industry,” said Jonathan Corr, president and CEO of Ellie Mae.

“Our partnership can allow Ellie Mae to accelerate its momentum as it innovates on behalf of lenders and homebuyers with the ultimate goal of helping people achieve the American dream of homeownership,” said Holden Spaht, managing partner at Thoma Bravo.


 

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