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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