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Thoma Bravo Closes Acquisition of Mortgage Finance Platform Provider Ellie Mae
Thursday 18 April 2019

18 April 2019 - US-based private equity investment firm has closed the acquisition of mortgage finance industry platform provider Ellie Mae, the firms said.

The aggregate equity value of the deal is approximately USD 3.7bn.

Under the terms of the agreement, Ellie Mae shareholders receive USD 99.00 in cash per share.

The price per share represents a 47% premium to the company's 30-day average closing share price and a 49% premium to its 60-day average closing price, each as of February 1, 2019.

Ellie Mae's stockholders voted their shares in favour of the transaction on April 15, 2019.

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

Ellie Mae is a cloud-based platform provider for the mortgage finance industry. Ellie Mae's technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency.

Thoma Bravo is a private equity firm focused on the software and technology-enabled services sectors.

J.P. Morgan Securities LLC served as the exclusive financial advisor to Ellie Mae and Cooley LLP served as the legal advisor to Ellie Mae. Jefferies LLC served as financial advisor to Thoma Bravo and Kirkland and Ellis LLP served as legal advisor to Thoma Bravo. Financing for the transaction was being provided by Jefferies Finance LLC.
Date Published: 18/04/2019
Target: Ellie Mae,  
Country: USA
Deal Size: 3.7bn (USD)
Sector: Banking/Financial Services
Type: LBO
Financing: Cash
Status: Closed
Buyer: Thoma Bravo, LLC
Buyer Advisor: Jefferies LLC , Kirkland and Ellis