From: IMFNews
By Paul Muolo
At least
three firms have shown a strong interest in buying Ellie Mae, a mortgage
software vendor with annualized revenues of roughly $130 million,
according to technology professionals tracking the deal. The purchase
price is in the range of $800 million to $1.1 billion, these officials
said.
As IMFnews went to press, a spokesman for the
company declined to comment. One of the firms that has taken a look at
buying Ellie Mae is Silver Lake, which bills itself as a “global
leader in technology investing.” Silver Lake officials did not
respond to press inquiries from IMF.
Based on
Tuesday’s stock price, Ellie Mae has a market capitalization of
almost $648 million.
Ellie Mae and its affiliates provide business
automation software to the mortgage industry, including products tied to
the origination function. The company went public two years
ago.
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