=Ellie Mae (ELLI) to be acquired by Thoma Bravo for $99/share

• Update September 2020 : Intercontinental Exchange (ICE) acquired Ellie Mae from Thoma Bravo for approximately $11 billion. The company processes 35% of U.S. mortgage applications.

 

 

 

Ellie Mae to be acquired by Thoma Bravo for $99/share in cash, or approximately $3.7 bln
Under the terms of the agreement, Thoma Bravo will pay Ellie Mae shareholders $99 in cash per share, equal to a 47% premium over the 30-day average closing share price and 49 percent premium to the 60-day average closing price as of February 1, 2019. Ellie Mae is a cloud-based platform provider for the mortgage finance industry that was set up more than 20 years ago. Ellie Mae will remain headquartered in Pleasanton, California. The deal is expected to close in the second or third quarter. The agreement includes a 35 day "go-shop" period, under which Ellie Mae can seek superior bids. Shares have fallen 5.3% in the last 12 months, while the S&P 500 SPX, +0.07% has gained 2.0%.

-=Ellie Mae (ELLI) reported earnings on Thur 26 Oct 2017 (a/h)

Ellie Mae, Inc. is a software company that processes almost a quarter of U.S. mortgage

• Headquarters: Pleasanton, CA
• elliemae.com

Elli Mae beats by $0.13, beats on revs; guides Q4 EPS below consensus, revs above consensus 

• Reports Q3 (Sep) earnings of $0.53 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $0.40; revenues rose 6.6% year/year to $107 mln vs the $105.62 mln Capital IQ Consensus.
• Co issues mixed guidancefor Q4, sees EPS of $0.19-0.29, excluding non-recurring items, vs. $0.32 Capital IQ Consensus Estimate; sees Q4 revs of $107-109 mln vs. $101.69 mln Capital IQ Consensus Estimate.
• Adjusted EBITDA is expected to be in the range of $23.0 million to $25.0 million
• "Seat bookings of 8,100 were also solid despite a tough quarter in which some of our customers were affected by devastating hurricanes in two of our major markets."