Thoma Bravo

Loan origination system provider Ellie Mae has agreed to purchase mortgage technology firm Capsilon, citing the growing appeal of artificial intelligence-driven automation and interest in becoming more active as an acquirer.

After years of expansion as a public company, Ellie Mae went private and cut 10% of its workforce. But new ways to grow lie ahead, according to CEO Jonathan Corr.

Mortgage rates continued to decline through the spring home buying season, driving up the share of refinance loans and overall closing rates, according to Ellie Mae.

The private equity acquisition of the fintech vendor Ellie Mae will give it some breathing room in a declining originations market because it will have a more patient and strategic investor than its myriad shareholders as a public company.

The mortgage loan origination system developer Ellie Mae is going private, agreeing to be acquired by the private equity firm Thoma Bravo in an all-cash transaction valued at $3.7 billion.