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Mortgage fintech Ellie Mae to go private in deal with Thoma Bravo
Thursday, February 14, 2019 6:45 AM

The mortgage loan origination system developer Ellie Mae is going private, agreeing to acquisition by the private equity firm Thoma Bravo in an all-cash transaction valued at $3.7 billion. The transaction is expected to close in the second or third quarter.

"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," Ellie Mae president and CEO Jonathan Corr said in a press release.

Among Thoma Bravo's current investments in mortgage-related companies are MerdianLink, whose technology includes the LendingQB loan origination system; Kofax, which offers document capture software; and Hyland Software, which does electronic document management technology.

"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," Holden Spaht, a managing partner at Thoma Bravo, said in the press release.

Read more at CU Journal with 5 pros and cons of Ellie Mae going private.