|[January 15, 2014]
Ellie Mae Completes MortgageCEO Acquisition
PLEASANTON, Calif. --(Business Wire)--
Ellie Mae® (NYSE:ELLI), a leading provider of enterprise
level, on-demand automated solutions for the residential mortgage
industry, announced today that it has completed its acquisition of
substantially all the assets of ARG Interactive, LLC (dba MortgageCEO)
("MortgageCEO"), a leader in on-demand customer relationship management
(CRM), and marketing automation solutions for the mortgage industry.
MortgageCEO's Software-as-a-Service offering provides mortgage
originators an "all-in-one" CRM and marketing platform with lead
management, sales automation, email marketing, builder and Realtor®
referral marketing and mobile capabilities.
MortgageCEO is currently integrated into Encompass® through
Ellie Mae's Software Development Kit (SDK). Ellie Mae intends to
strengthen the integration between MortgageCEO and Encompass in 2014.
"With shrinking refinance volumes and a major shift to a purchase
market, originators will need to fully leverage their referral sources
and deepen relationships with existing customers, partners and prospects
in order to compete and succeed," said Jonathan Corr, president and
chief operating officer of Ellie Mae. "Employing a well-designed CRM and
marketing automation system like MortgageCEO allows originators to
efficiently ramp up their marketing and improve how they generate and
nurture referral relationships. It also allows lenders to easily
demonstrate that the proper institutional controls and safeguards are
being applied when marketing to consumers."
Jaret Christopher, founder and CEO of MortgageCEO, added, "By joining
forces with Ellie Mae, we can expand our shared vision of helping
lenders automate the origination process and deliver the best software
solutions to our customers. Strengthening MortgageCEO's integration with
Encompass will help lenders improve compliance and customer service,
reduce sales and marketing costs and take their origination efforts to
the next level with just one system."
This document contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including
statements regarding the anticipated benefits from and timing of the
integration of MortgageCEO with Ellie Mae. Forward-looking statements
may include, but are not limited to, statements identified by words sch
as "expectations," "guidance," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "targets," "projects" and similar
expressions. Such statements are based upon the current beliefs and
expectations of Ellie Mae's management and are subject to significant
risks and uncertainties. Actual results may differ from those set forth
in the forward-looking statements. Factors that might cause future
results to differ include, but are not limited to, the following: the
risk that the anticipated benefits, growth prospects and synergies
expected from the MortgageCEO acquisition may not be fully realized or
may take longer to realize than expected; the possibility that economic
benefits of future opportunities in an emerging industry may never
materialize, including unexpected variations in market growth and demand
for the acquired products and technologies; delays, disruptions, costs
and challenges associated with integrating MortgageCEO into the
Company's existing business, including changing relationships with
partners, customers, employees or suppliers; the amount of costs
incurred in connection with the supporting and integrating new customers
and partners; ongoing personnel and logistical challenges of managing a
larger organization; our ability to retain and motivate key employees
from MortgageCEO; and general economic and business conditions. You are
advised to consult any further disclosures we make on related subjects
in the reports we file with the SEC (News - Alert), including the "Risk Factors" in our
most recent Annual Report on Form 10-K and our Quarterly Reports on Form
10-Q. Such disclosure covers certain risks, uncertainties and possibly
inaccurate assumptions that could cause our actual results to differ
materially from expected and historical results. We undertake no
obligation to correct or update any forward-looking statements, whether
as a result of new information, future events or otherwise.
About Ellie Mae
Ellie Mae, Inc. (NYSE:ELLI) is a leading provider of on-demand
automation solutions for the mortgage industry. The Company offers
an end-to-end solution, delivered using a Software-as-a-Service model
that serves as the core operating system for mortgage originators and
spans customer relationship management, loan origination and business
management. The Company also hosts the Ellie
Mae Network™ that allows Encompass® users to
electronically conduct business transactions with the lenders and
settlement service providers they work with to process and fund loans.
The Company's offerings include the Encompass and DataTrac®
mortgage management software systems.
Ellie Mae was founded in 1997 and is based in Pleasanton, California. To
learn more about Ellie Mae, visit www.EllieMae.com
or call 877.355.4362.
© 2014 Ellie Mae, Inc. Ellie Mae®, Encompass®,
DataTrac®, Ellie Mae Network™ and
the Ellie Mae logo are registered trademarks or trademarks of Ellie Mae,
Inc. or its subsidiaries. All rights reserved. Other company and product
names may be trademarks or copyrights of their respective owners.
MortgageCEO, an ARG Interactive company, is a leading provider of
on-demand CRM and marketing automation solutions to mortgage companies,
banks and credit unions. MortgageCEO's suite of sales tools and
marketing solutions are easy to implement and is a cost effective way to
increase sales and provide a better overall experience to clients. To
learn more about MortgageCEO, visit www.mortgageCEO.com.
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