Thoma Bravo to take Ellie Mae private in $3.7 bln deal

Feb 12 () - Private equity firm Thoma Bravo LLC is acquiring Ellie Mae Inc for $3.7 billion, the mortgage software company said on Tuesday.

Ellie Mae shareholders will receive $99 in cash for each share they hold, representing a premium of 21 percent to the stock's Monday closing price.

Ellie Mae shares jumped 21 percent to $99.10 in early trade following the news.

The deal, which includes a 35-day period in which Ellie Mae can solicit buyout offers from other parties, will likely close in the second or third quarter of 2019, Ellie Mae said in a statement.

JPMorgan was Ellie Mae's financial adviser and Jefferies advised Thoma Bravo. Cooley LLP gave legal advice to Ellie Mae, while Thoma Bravo was advised by Kirkland & Ellis.

Jefferies provided financing for the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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