Ellie Mae Acquired by Thoma Bravo

Ellie
Mae^®, the leading cloud-based platform provider for the
mortgage finance industry, announced that it has been acquired by Thoma
Bravo, LLC, a leading private equity investment firm, in an all-cash
transaction that values Ellie Mae at an aggregate equity value of
approximately $3.7 billion. The acquisition was announced on February
12, 2019 and closed today.

Under the terms of the agreement, Ellie Mae shareholders receive $99.00
in cash per share. The price per share represents a 47 percent premium
to the company’s 30-day average closing share price and a 49 percent
premium to its 60-day average closing price, each as of February 1,
2019. Ellie Mae’s stockholders voted their shares in favor 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.

“The closing of this transaction represents the beginning of the next
chapter in our digital mortgage journey as we work toward our North Star
of automating everything automatable for the residential mortgage
industry,” said Jonathan Corr, president and CEO of Ellie Mae. “Thoma
Bravo brings deep expertise and together we are committed to supporting
our lenders’ success, fostering innovation and growth of the Encompass
Digital Lending Platform and accelerating our value for our ecosystem of
customers, partners and employees.”

“Thoma Bravo has long been impressed with Ellie Mae’s unique position as
the leader in mortgage technology solutions. The company’s exceptional
products and deep commitment to automate the mortgage process allows it
to maintain its prominent position in an industry undergoing an
extensive digital transformation,” said Holden Spaht, a Managing Partner
at Thoma Bravo. “Our partnership can allow Ellie Mae to accelerate its
momentum as it innovates on behalf of lenders and homebuyers with the
ultimate goal of helping people achieve the American dream of
homeownership.”

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 &
Ellis LLP served as legal advisor to Thoma Bravo. Financing for the
transaction was being provided by Jefferies Finance LLC.

About Ellie Mae

Ellie Mae is the leading 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. Visit or call (877) 355-4362 to learn more.

About Thoma Bravo, LLC

Thoma Bravo is a leading private equity firm focused on the software and
technology-enabled services sectors. With a series of funds representing
more than $30 billion in capital commitments, Thoma Bravo partners with
a company’s management team to implement operating best practices,
invest in growth initiatives and make accretive acquisitions intended to
accelerate revenue and earnings, with the goal of increasing the value
of the business. Representative past and present portfolio companies
include industry leaders such as ABC Financial, Blue Coat Systems,
Deltek, Digital Insight, Frontline Education, Global Healthcare
Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik,
Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems, TravelClick
and Veracode. The firm has offices in San Francisco and Chicago. For
more information, visit thomabravo.com.

© 2019 Ellie Mae, Inc. Ellie Mae®, Encompass®, AllRegs®, Mavent®,
Velocify®, the Ellie Mae logo and other trademarks or service marks of
Ellie Mae, Inc. appearing herein are the property of Ellie Mae, Inc. or
its subsidiaries. All rights reserved. Other company and product names
may be trademarks or copyrights of their respective owners.

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