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.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. 

Cooley has 1,000+ lawyers across 14 offices in the United States, China and Europe.

 
Related Contacts
Jamie Leigh Partner, San Francisco
Ben Beerle Partner, San Francisco
Matt Hallinan Partner, Los Angeles
Jon Avina Partner, Palo Alto
Brenden Rowook Park Associate, San Diego
Jacqueline Grise Partner, Washington, DC
Patrick Gibbs Partner, Palo Alto
TJ Graham Partner, Palo Alto
Wendy Brenner Partner, Palo Alto
Jonathan Rivinus Associate, Colorado
Austin Holt Associate, Los Angeles
Jennifer Sayles Okorn Associate, Los Angeles
Barbara Mirza Partner, Los Angeles
Matt O'Brien Associate, Los Angeles
Mike Faber Senior Counsel, San Francisco
Sunny Chang Associate, San Diego
Cristina Carapezza Associate, Los Angeles
Julia Renehan Associate, Washington, DC
Vince Flynn Associate, San Diego
Rubin Waranch Associate
Adaku Nwachukwu Associate, Washington, DC