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


(Reuters) - Private equity firm LLC is acquiring Inc for $3.7 billion, the company said on Tuesday.

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

shares jumped 21 percent to $99.10 in early trade following the

The Pleasanton, California-headquartered company provides a for the and enables lenders to originate loans. Its partners include Equifax Inc, Genworth Mortgage Insurance, Fannie Mae, and

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.

was Ellie Mae's and Jefferies advised gave legal advice to Ellie Mae, while was advised by

Jefferies provided financing for the deal.

(Reporting By and in Bengaluru; Editing by Sai Sachin Ravikumar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 12 2019. 21:32 IST