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Ellie Mae to Sell to Thoma Bravo for $3.7 Billion

San Francisco – February 19, 2019 – Cooley advised Ellie Mae, a cloud-based platform provider for the mortgage finance industry, on its agreement to sell to private equity firm Thoma Bravo for approximately $3.7 billion. The transaction is expected to close in Q2 or Q3. Partners Jamie Leigh, Ben Beerle and Matt Hallinan led the Cooley team advising Ellie Mae on the acquisition. 

“As we enter this next phase of our digital mortgage journey, we are thrilled to provide immediate value to our shareholders,” said Jonathan Corr, president and CEO of Ellie Mae. “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.”

The agreement includes a 35-day “go-shop” period, which permits Ellie Mae’s board and advisers to initiate, solicit, encourage and potentially enter negotiations with parties that make alternative acquisition proposals. 

Ellie Mae’s technology solutions enable lenders to originate more loans, reduce origination costs and shorten the time to close, all while ensuring the highest levels of compliance, quality and efficiency.

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Related Contacts
Jamie Leigh  Partner San Francisco
Ben Beerle  Partner San Francisco
Matt Hallinan  Partner Los Angeles – Santa Monica, Los Angeles – Downtown
Jon Avina  Partner Palo Alto
Rowook Park  Partner San Diego
Jacqueline Grise  Partner Washington, DC
Patrick Gibbs  Partner Palo Alto
TJ Graham  Partner Palo Alto
Wendy Brenner  Partner Palo Alto, Los Angeles – Santa Monica
Jonathan Rivinus  Partner Colorado
Austin Holt  Associate Los Angeles – Santa Monica, Los Angeles – Downtown
Barbara Mirza  Partner Los Angeles – Santa Monica, Los Angeles – Downtown
Mike Faber  Retired Partner San Francisco
Cristina Carapezza  Associate Los Angeles – Santa Monica, Los Angeles – Downtown
Julia R. Brinton  Associate Washington, DC
Vince Flynn  Associate San Diego
Rubin Waranch  Associate Washington, DC