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{{short description|Mortgage technology company}}
{{short description|Mortgage technology company}}
{{For|the fictional character Elly May Clampett|The Beverly Hillbillies}}
{{Advert|date=August 2016}}
{{Infobox company
{{Infobox company
| name = Ellie Mae, Inc.
| name = Ellie Mae, Inc.
| logo = Elliemae-no-tag-logo.svg
| logo = Elliemae-no-tag-logo.svg
| type = Private
| type = [[Subsidiary]]
| fate = Acquired by [[Intercontinental Exchange]]
| industry = Technology – Application Software
| industry = Technology – Application Software
| services = Automated solutions for the residential mortgage industry
| services = Automated solutions for the residential mortgage industry
| foundation = {{start date and age|1997}}
| foundation = {{start date and age|1997}}
| location = [[Pleasanton, California]], U.S.
| location = [[Pleasanton, California]], U.S.
| key_people = {{nowrap|Joe Tyrrell}}<br>{{nowrap|{{small|(President)}}}}<br>
| key_people = {{nowrap|Joe Tyrrell}}<br>{{nowrap|{{small|(President)}}}}
| revenue = {{nowrap|{{increase}} US$417.04 million {{small|(2017)}}}}
| revenue = {{nowrap|{{increase}} US$417.04 million {{small|(2017)}}}}
| operating_income = {{nowrap|{{decrease}} US$42.14 million {{small|(2017)}}}}
| operating_income = {{nowrap|{{decrease}} US$42.14 million {{small|(2017)}}}}
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}}
}}


'''Ellie Mae Inc.''', originally named Electronic Mortgage Affiliates,<ref>{{cite news |url=https://www.sfchronicle.com/business/networth/article/Ellie-Mae-thrives-on-mortgage-regulation-6338735.php |title=Ellie Mae thrives on mortgage regulation |first=Kathleen |last=Pender |newspaper=San Francisco Chronicle |date=June 20, 2015 |accessdate=August 12, 2020 |quote=The company ... was founded as Electronic Mortgage Affiliates, but changed its name to Ellie Mae at a time when Fannie Mae was one of the nation's most admired companies.}}</ref> is a software company that processes 35% of U.S. mortgage applications.<ref name=Bloomberg>{{cite web|last1=Howley|first1=Kathleen|title=Ellie Mae Soars 44% as Home Lenders Embrace E-Signatures|url=https://www.bloomberg.com/news/articles/2014-10-30/ellie-mae-soars-44-as-home-lenders-embrace-e-signatures|work=Bloomberg.com|accessdate=May 22, 2015|date=October 30, 2014}}</ref> The services are based on a [[software as a service]] model (SaaS)<ref>{{cite web |url= https://finance.yahoo.com/q/pr?s=ELLI+Profile|title= Business Summary}}</ref> that streamlines and automates the process of [[mortgage origination|originating]] and funding new mortgage loans and facilitating [[regulatory compliance]]. The company was founded in 1997 by Limin Hu and [[Sig Anderman|Sigmund Anderman]], and is headquartered in [[Pleasanton, California]].<ref name=forbes>{{cite web|author=Staff|title=Ellie Mae|url=https://www.forbes.com/companies/ellie-mae/|website=Forbes.com|accessdate=May 22, 2015}}</ref>
'''Ellie Mae Inc.''', originally named Electronic Mortgage Affiliates,<ref>{{cite news |url=https://www.sfchronicle.com/business/networth/article/Ellie-Mae-thrives-on-mortgage-regulation-6338735.php |title=Ellie Mae thrives on mortgage regulation |first=Kathleen |last=Pender |newspaper=San Francisco Chronicle |date=June 20, 2015 |accessdate=August 12, 2020 |quote=The company ... was founded as Electronic Mortgage Affiliates, but changed its name to Ellie Mae at a time when Fannie Mae was one of the nation's most admired companies.}}</ref> is a software company that processes 35% of U.S. mortgage applications.<ref name=Bloomberg>{{cite web|last1=Howley|first1=Kathleen|title=Ellie Mae Soars 44% as Home Lenders Embrace E-Signatures|url=https://www.bloomberg.com/news/articles/2014-10-30/ellie-mae-soars-44-as-home-lenders-embrace-e-signatures|work=Bloomberg.com|accessdate=May 22, 2015|date=October 30, 2014}}</ref> The services are based on a [[software as a service]] model (SaaS),<ref>{{cite web |url= https://finance.yahoo.com/q/pr?s=ELLI+Profile|title= Business Summary}}</ref> and specializes in [[mortgage origination|originating]] and funding new mortgage loans and facilitating [[regulatory compliance]]. The company is headquartered in [[Pleasanton, California]].<ref name=forbes>{{cite web|author=Staff|title=Ellie Mae|url=https://www.forbes.com/companies/ellie-mae/|website=Forbes.com|accessdate=May 22, 2015}}</ref>

⚫
In September 2020, financial services company [[Intercontinental Exchange]] acquired Ellie Mae for approximately $11 billion.<ref>{{Cite web|url=https://www.housingwire.com/articles/with-11b-ellie-mae-deal-finalized-ice-prepares-to-unleash-a-fully-digital-mortgage-ecosystem/|title=With $11B Ellie Mae deal finalized, ICE prepares to unleash a “fully digital mortgage ecosystem”|date=Sep 4, 2020|website=HousingWire.com}}</ref>


==History==
==History==
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In 2009, Ellie Mae was accused by [[DocMagic]], 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.<ref name=docmagiclawsuit>{{cite web|last1=Kilgore|first1=Austin|title=DocMagic, Ellie Mae Settle Lawsuit|url=http://www.nationalmortgagenews.com/mortgage-technology/docmagic-ellie-mae-settle-lawsuit-1032565-1.html|accessdate=May 22, 2015|date=October 10, 2012}}</ref>
In 2009, Ellie Mae was accused by [[DocMagic]], 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.<ref name=docmagiclawsuit>{{cite web|last1=Kilgore|first1=Austin|title=DocMagic, Ellie Mae Settle Lawsuit|url=http://www.nationalmortgagenews.com/mortgage-technology/docmagic-ellie-mae-settle-lawsuit-1032565-1.html|accessdate=May 22, 2015|date=October 10, 2012}}</ref>


Ellie Mae made its [[initial public offering]] in 2011, valued at approximately $122 million.<ref>{{cite news |url=https://www.americanbanker.com/news/ellie-starts-trading-on-nyse |title=Ellie Starts Trading on NYSE |first=Austin |last=Kilgore |newspaper=American Banker |date=April 15, 2011 |accessdate=October 2, 2020}}</ref>
In September 2003, Ellie Mae introduced the updated mortgage-management system Encompass360 to help underwriters comply with the latest federal mortgage rules in beginning in 2014. This system features debt-to-income calculators, discount assessment, and tools for evaluating a given loan's quality.<ref>{{cite web |url= http://www.americanbanker.com/issues/178_189/ellie-mae-to-update-mortgage-platform-for-new-mortgage-rules-1062490-1.html |title= Ellie Mae to Update Mortgage Platform for New Mortgage Rules }}</ref>

⚫
In January 2014, Ellie Mae finally completed the acquisition of MortgageCEO (focusing on [[Customer relationship management|CRM]]).<ref>{{cite web |url= http://www.housingwire.com/articles/28612-ellie-mae-finalizes-mortgageceo-acquisition |title= Ellie Mae finalizes MortgageCEO acquisition }}</ref> Also in January 2014, Ellie Mae completed the acquisition of ARG Interactive, LLC.<ref>{{cite web |url= https://www.google.com/finance?q=NYSE:ELLI|title= Company Description}}</ref> Ellie Mae made its [[initial public offering]] in 2011, valued at approximately $122 million.<ref>{{cite news |url=https://www.americanbanker.com/news/ellie-starts-trading-on-nyse |title=Ellie Starts Trading on NYSE |first=Austin |last=Kilgore |newspaper=American Banker |date=April 15, 2011 |accessdate=October 2, 2020}}</ref> In 2008 Ellie Mae acquired the assets of Online Document Systems Inc. from Stewart Lender Services Inc. Since 2008 it has acquired Mavent Inc. (2009), Del Mar DataTrac (2011),<ref>{{Cite web|last=|first=|date=August 15, 2011|title=Ellie Mae acquires Del Mar DataTrac|url=https://www.businesswire.com/news/home/20110815006489/en/ELLIE-MAE%C2%AE-ACQUIRES-DEL-MAR-DATATRAC|access-date=July 13, 2020|website=Business Wire}}</ref> Mortgage Pricing Systems (2011), MortgageCEO (2014),<ref>{{Cite web|url=https://www.businesswire.com/news/home/20140115006426/en/Ellie-Mae-Completes-MortgageCEO-Acquisition|title=Ellie Mae Completes MortgageCEO Acquisition|last=|first=|date=January 15, 2014|website=Business Wire|access-date=April 30, 2020}}</ref> AllRegs, an Eagan, Minnesota-based information provider for the mortgage industry (2014),<ref>{{cite web | url=http://nationalmortgageprofessional.com/news50938/Ellie-Mae-Set-Acquire-AllRegs | title=Ellie Mae Set to Acquire AllRegs| date=August 7, 2014}}</ref><ref>{{cite web | url=http://tcbmag.com/News/Recent-News/2014/August/Eagan-Based-Mortgage-Info-Provider-Sold-For-$30M | title=Eagan-Based Mortgage Info Provider Sold for $30M}}</ref> ARG Interactive (2014),<ref>{{Cite web|last=|first=|date=January 15, 2014|title=Ellie Mae Completes Acquisition of MortgageCEO|url=https://www.benzinga.com/news/14/01/4227132/ellie-mae-completes-acquisition-of-mortgageceo|access-date=July 13, 2020|website=Benzinga}}</ref> MortgageReturns (2015), Velocify (2017), Docvelocity (2019) and Capsilon (2019)<ref>{{Cite web|url=https://www.businesswire.com/news/home/20191028005191/en/Ellie-Mae-Acquire-Capsilon-Deliver-End-to-End-Mortgage|title=Ellie Mae to Acquire Capsilon to Deliver End-to-End Mortgage Automation|last=|first=|date=October 28, 2019|website=Business Wire|access-date=April 30, 2020}}</ref>

⚫
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.


== Mergers and Acquisitions ==
In August 2020, [[Intercontinental Exchange]] announced that it had entered into a definitive agreement to acquire Ellie Mae for approximately $11 billion.<ref>{{Cite web|url=https://www.nasdaq.com/articles/nyse-owner-ice-to-buy-ellie-mae-in-%2411-billion-deal-2020-08-06|title=NYSE-owner ICE to buy Ellie Mae in $11 billion deal|date=August 6, 2020|website=Nasdaq.com}}</ref> The transaction completed successfully in September 2020 after regulatory approval.<ref>{{Cite web|url=https://www.housingwire.com/articles/with-11b-ellie-mae-deal-finalized-ice-prepares-to-unleash-a-fully-digital-mortgage-ecosystem/|title=With $11B Ellie Mae deal finalized, ICE prepares to unleash a “fully digital mortgage ecosystem”|date=Sep 4, 2020|website=HousingWire.com}}</ref>
⚫
Ellie Mae acquired the assets of Online Document Systems Inc. (2008), Mavent Inc. (2009), Del Mar DataTrac (2011),<ref>{{Cite web|last=|first=|date=August 15, 2011|title=Ellie Mae acquires Del Mar DataTrac|url=https://www.businesswire.com/news/home/20110815006489/en/ELLIE-MAE%C2%AE-ACQUIRES-DEL-MAR-DATATRAC|access-date=July 13, 2020|website=Business Wire}}</ref> Mortgage Pricing Systems (2011), MortgageCEO (2014),<ref>{{Cite web|url=https://www.businesswire.com/news/home/20140115006426/en/Ellie-Mae-Completes-MortgageCEO-Acquisition|title=Ellie Mae Completes MortgageCEO Acquisition|last=|first=|date=January 15, 2014|website=Business Wire|access-date=April 30, 2020}}</ref> AllRegs (2014),<ref>{{cite web | url=http://nationalmortgageprofessional.com/news50938/Ellie-Mae-Set-Acquire-AllRegs | title=Ellie Mae Set to Acquire AllRegs| date=August 7, 2014}}</ref><ref>{{cite web | url=http://tcbmag.com/News/Recent-News/2014/August/Eagan-Based-Mortgage-Info-Provider-Sold-For-$30M | title=Eagan-Based Mortgage Info Provider Sold for $30M}}</ref> ARG Interactive (2014),<ref>{{Cite web|last=|first=|date=January 15, 2014|title=Ellie Mae Completes Acquisition of MortgageCEO|url=https://www.benzinga.com/news/14/01/4227132/ellie-mae-completes-acquisition-of-mortgageceo|access-date=July 13, 2020|website=Benzinga}}</ref> MortgageReturns (2015), Velocify (2017), Docvelocity (2019), and Capsilon (2019)<ref>{{Cite web|url=https://www.businesswire.com/news/home/20191028005191/en/Ellie-Mae-Acquire-Capsilon-Deliver-End-to-End-Mortgage|title=Ellie Mae to Acquire Capsilon to Deliver End-to-End Mortgage Automation|last=|first=|date=October 28, 2019|website=Business Wire|access-date=April 30, 2020}}</ref>


⚫
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.
== Products and services ==
The company's Ellie Mae Network connects mortgage lenders, investors, and service providers. Its Encompass product combines loan origination, business management, and customer relationship management. Encompass components include the following:


⚫
In August 2020, [[Intercontinental Exchange]] announced that it had entered into a definitive agreement to acquire Ellie Mae for approximately $11 billion.<ref>{{Cite web|url=https://www.nasdaq.com/articles/nyse-owner-ice-to-buy-ellie-mae-in-%2411-billion-deal-2020-08-06|title=NYSE-owner ICE to buy Ellie Mae in $11 billion deal|date=August 6, 2020|website=Nasdaq.com}}</ref> The transaction completed successfully in September 2020 after regulatory approval.<ref>{{Cite web|url=https://www.housingwire.com/articles/with-11b-ellie-mae-deal-finalized-ice-prepares-to-unleash-a-fully-digital-mortgage-ecosystem/|title=With $11B Ellie Mae deal finalized, ICE prepares to unleash a "fully digital mortgage ecosystem"|date=Sep 4, 2020|website=HousingWire.com}}</ref>
* the Ellie Mae TQL Services tool (used within Encompass for fraud detection, valuation, and risk analysis)
* Encompass CenterWise (a bundled offering of Encompass WebCenter and Encompass Enterprise Document Management (EDM))
* Encompass WebCenter (providing professional websites)
* Encompass TPO WebCenter (web-based extension of Encompass for third-party originators)
* Encompass Docs Solution
* Encompass Compliance Service
* Encompass Product and Pricing Service
* Encompass 4506-T Service (tax transcript services).<ref>{{cite web |url= https://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=ELLI.K|title= Company Full Description}}</ref>


== References ==
== References ==
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[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:2019 mergers and acquisitions]]
[[Category:2019 mergers and acquisitions]]
[[Category:Private equity portfolio companies]]
[[Category:2020 mergers and acquisitions]]
[[Category:2011 initial public offerings]]
[[Category:Intercontinental Exchange]]
[[Category:American corporate subsidiaries]]

Latest revision as of 03:46, 3 June 2024

For the fictional character Elly May Clampett, see The Beverly Hillbillies.
Ellie Mae, Inc.
Company typeSubsidiary
IndustryTechnology – Application Software
Founded1997; 28 years ago (1997)
FateAcquired by Intercontinental Exchange
HeadquartersPleasanton, California, U.S.
Key people
Joe Tyrrell
(President)
ServicesAutomated solutions for the residential mortgage industry
RevenueIncrease US$417.04 million (2017)
Decrease US$42.14 million (2017)
Increase US$52.85 million (2017)
Total assetsIncrease US$831.61 million (2017)
Total equityIncrease US$735.34 million (2017)
OwnerIntercontinental Exchange
Number of employees
approx. 1,750 (2020)
WebsiteICEMortgageTechnology.com

Ellie Mae Inc., originally named Electronic Mortgage Affiliates,[1] is a software company that processes 35% of U.S. mortgage applications.[2] The services are based on a software as a service model (SaaS),[3] and specializes in originating and funding new mortgage loans and facilitating regulatory compliance. The company is headquartered in Pleasanton, California.[4]

History

[edit]

Ellie Mae was founded in 1997 by Limin Hu and Sigmund Anderman.[4]

In 2009, Ellie Mae was accused by DocMagic, 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.[5]

Ellie Mae made its initial public offering in 2011, valued at approximately $122 million.[6]

Mergers and Acquisitions

[edit]

Ellie Mae acquired the assets of Online Document Systems Inc. (2008), Mavent Inc. (2009), Del Mar DataTrac (2011),[7] Mortgage Pricing Systems (2011), MortgageCEO (2014),[8] AllRegs (2014),[9][10] ARG Interactive (2014),[11] MortgageReturns (2015), Velocify (2017), Docvelocity (2019), and Capsilon (2019)[12]

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 announced that it had entered into a definitive agreement to acquire Ellie Mae for approximately $11 billion.[13] The transaction completed successfully in September 2020 after regulatory approval.[14]

References

[edit]
  1. ^ Pender, Kathleen (June 20, 2015). "Ellie Mae thrives on mortgage regulation". San Francisco Chronicle. Retrieved August 12, 2020. The company ... was founded as Electronic Mortgage Affiliates, but changed its name to Ellie Mae at a time when Fannie Mae was one of the nation's most admired companies.
  2. ^ Howley, Kathleen (October 30, 2014). "Ellie Mae Soars 44% as Home Lenders Embrace E-Signatures". Bloomberg.com. Retrieved May 22, 2015.
  3. ^ "Business Summary".
  4. ^ a b Staff. "Ellie Mae". Forbes.com. Retrieved May 22, 2015.
  5. ^ Kilgore, Austin (October 10, 2012). "DocMagic, Ellie Mae Settle Lawsuit". Retrieved May 22, 2015.
  6. ^ Kilgore, Austin (April 15, 2011). "Ellie Starts Trading on NYSE". American Banker. Retrieved October 2, 2020.
  7. ^ "Ellie Mae acquires Del Mar DataTrac". Business Wire. August 15, 2011. Retrieved July 13, 2020.
  8. ^ "Ellie Mae Completes MortgageCEO Acquisition". Business Wire. January 15, 2014. Retrieved April 30, 2020.
  9. ^ "Ellie Mae Set to Acquire AllRegs". August 7, 2014.
  10. ^ "Eagan-Based Mortgage Info Provider Sold for $30M".
  11. ^ "Ellie Mae Completes Acquisition of MortgageCEO". Benzinga. January 15, 2014. Retrieved July 13, 2020.
  12. ^ "Ellie Mae to Acquire Capsilon to Deliver End-to-End Mortgage Automation". Business Wire. October 28, 2019. Retrieved April 30, 2020.
  13. ^ "NYSE-owner ICE to buy Ellie Mae in $11 billion deal". Nasdaq.com. August 6, 2020.
  14. ^ "With $11B Ellie Mae deal finalized, ICE prepares to unleash a "fully digital mortgage ecosystem"". HousingWire.com. Sep 4, 2020.
[edit]
  • Official website
    • Historical business data for Ellie Mae, Inc.:
    • SEC filings
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