ICE Prepares to Unleash a “Fully Digital Mortgage Ecosystem”

The Intercontinental Exchange (known as “ICE”) announced on Friday that it has received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae.

Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange said:

We are excited to begin the next important chapter in our journey to digitize the residential mortgage industry. Ellie Mae’s industry leadership and best-of-breed technology will better enable us to further accelerate the automation of the mortgage origination workflow, which will benefit stakeholders across the production chain, including consumers.

Per the announcement, the transaction values Ellie Mae at an enterprise value of $11 billion – three times the all-cash transaction of $3.7 billion private equity shop Thoma Bravo spent acquiring it a little over a year ago.

ICE acquired a majority equity position in MERSCORP Holdings, the owner of Mortgage Electronic Registration System in 2016, and purchased the remaining stake two years later. ICE also acquired Simplifile in 2019 for $335 million.

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