Ellie Mae Inc., originally named Electronic Mortgage Affiliates, is a software company that processes 35% of U.S. mortgage applications. The services are based on a

software as a service Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. SaaS is also known as "on-demand software" and Web-based/Web-hosted software. SaaS is con ...

model (SaaS) and specializes in originating and funding new mortgage loans and facilitating

regulatory compliance In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Compliance has traditionally been explained by reference to the deterrence theory, according to which punishing a behavior will decrease the viol ...

. The company is headquartered in

Pleasanton, California Pleasanton is a city in Alameda County, California, United States. Located in the Amador Valley, it is a suburb in the East Bay region of the San Francisco Bay Area. The population was 79,871 at the 2020 United States Census, 2020 census. In 200 ...

History

Ellie Mae was founded in 1997 by Limin Hu and Sigmund Anderman. In 2009, Ellie Mae was accused by

DocMagic DocMagic, Inc. is an American technology company. The company was founded by its current President and CEO, Dominic Iannitti, in 1987 and is headquartered in Torrance, California, USA. DocMagic is based on a software as a service (SaaS) model; Do ...

, a competitor, of violating antitrust and intellectual property laws around actions taken when the vendor agreement between the two companies expired. The two companies settled the lawsuit after three years of litigation. Ellie Mae made its

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

in 2011, valued at approximately $122 million.

Mergers and Acquisitions

Ellie Mae acquired the assets of Online Document Systems Inc. (2008), Mavent Inc. (2009), Del Mar DataTrac (2011), Mortgage Pricing Systems (2011), MortgageCEO (2014), AllRegs (2014), ARG Interactive (2014), MortgageReturns (2015), Velocify (2017), Docvelocity (2019), and Capsilon (2019) In April 2019, Ellie Mae was acquired by Thoma Bravo, LLC, a private equity investment firm, in an all-cash transaction that valued Ellie Mae at an aggregate equity value of approximately $3.7 billion. The acquisition was announced on February 12, 2019 and closed on April 17, 2019. In August 2020,

Intercontinental Exchange Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russe ...

announced that it had entered into a definitive agreement to acquire Ellie Mae for approximately $11 billion. The transaction completed successfully in September 2020 after regulatory approval.

References

External links

* * {{Finance links historical , name = Ellie Mae, Inc. , sec_cik = 1122388 1997 establishments in California Software companies established in 1997 Financial services companies established in 1997 American companies established in 1997 Mortgage industry companies of the United States Software companies based in the San Francisco Bay Area Financial software companies Companies based in Pleasanton, California Companies formerly listed on the New York Stock Exchange 2019 mergers and acquisitions 2020 mergers and acquisitions 2011 initial public offerings Intercontinental Exchange American corporate subsidiaries