Thoma Bravo Acquires Ellie Mae

ellie maeThoma Bravo, LLC, a private equity investment firm, acquired Ellie Mae, a Pleasanton, CA-based cloud platform for the mortgage finance industry.

The all-cash transaction values Ellie Mae at an aggregate EV of approximately $3.7 billion.
Financing for the transaction was being provided by Jefferies Finance LLC.

Under the terms of the agreement, Ellie Mae shareholders receive $99.00 in cash per share. The price per share represents a 47 percent premium to the company’s 30-day average closing share price and a 49 percent premium to its 60-day average closing price, each as of February 1, 2019. Ellie Mae’s stockholders voted their shares in favor of the transaction on April 15, 2019.

With the completion of the acquisition, the company’s common stock ceased trading and is no longer listed on the New York Stock Exchange.

Led by Jonathan Corr, president and CEO, Ellie Mae provides a cloud-based platform for the mortgage finance industry, which enables lenders to originate loans, lower origination costs, and reduce the time to close, all while ensuring compliance and efficiency.

J.P. Morgan Securities LLC served as the exclusive financial advisor to Ellie Mae and Cooley LLP served as the legal advisor to the company. Jefferies LLC served as financial advisor to Thoma Bravo and Kirkland & Ellis LLP served as legal advisor to Thoma Bravo.

FinSMEs

17/04/2019

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