Housing News Podcast: Ellie Mae’s Jonathan Corr on Thoma Bravo deal, Capsilon acquisition and 2020 market outlook
The Housing News Podcast is a weekly wrap of the top news stories by HousingWire CEO Clayton Collins.
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Arch MI.
This week, Jonathan Corr, the president and CEO of Ellie Mae discusses the company being acquired by Thoma Bravo, as well as Ellie Mae’s recent acquisition of fintech company Capsilon. Additionally, Corr details his market outlook for 2020.
Here’s more detail on the topics of discussion this week:
In February, Ellie Mae announced it entered an agreement to be acquired by Thoma Bravo, a private equity investment firm. According to the company, the deal was an all-cash transaction of $3.7 billion. Under the terms of the agreement, its shareholders received $99 per share in cash. This is a 47% premium to the 30-day average closing share price and a 49% premium to the 60-day average closing price as of Feb. 1, 2019.
In October, Ellie Mae announced it signed a definitive agreement to acquire Capsilon, a provider of AI-powered mortgage automation software for lenders, investors, and servicers. This acquisition will combine the company’s Encompass Digital Lending Platform with Capsilon’s AI solutions to create an end-to-end Software-as-a-Service for the mortgage industry. With this partnership, the company aims to accelerate its vision to offer a fully digital mortgage.
And here are links to the topics discussed:
1) Ellie Mae to be acquired by Thoma Bravo for $3.7 billion
2) Ellie Mae signs agreement to acquire Capsilon