Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding Ellie Mae, including expected revenue, expected adjusted operating expense, expected interest expense and expected weighted average diluted shares outstanding for the month and three months ended September 30, 2020, that are not historical facts are "forward-looking statements" that involve risks and uncertainties. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).” Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. As the parent company of the New York Stock Exchange, the company is the premier venue for raising capital in the world, driving economic growth and transforming markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company formed in the year 2000 to modernize markets. Approximately 5 million weighted average diluted shares outstanding, which are expected to result in total weighed average diluted shares outstanding of 551 million to 554 million in the third quarter of 2020.Interest expense of $11 million to $12 million.Adjusted operating expense 1 of $34 million to $36 million.Key Third Quarter 2020 Financial Metrics:īased on a closing date of September 4 th, 2020 and an allocation to ICE based on the number of business days following completion, ICE currently expects the Ellie Mae transaction to contribute the following to its third quarter 2020 results: With all three of these entities, MERS, Simplifile and Ellie Mae working together as part of ICE Mortgage Technology, the expanded platform will, for the first time, bring together all of the key stakeholders from origination to final settlement in one digital mortgage ecosystem. The core focus of Ellie Mae's technology, expertise and network is in the mortgage origination process, connecting brokers, underwriters and lenders. The strategy continued with the acquisition of Simplifile in 2019, furthering a focus on digitizing the closing and post-closing process for U.S. Intercontinental Exchange’s efforts to help automate the mortgage workflow began with its majority investment in the Mortgage Electronic Registrations System (MERS) in 2016, which it fully acquired in 2018. Lenders rely on Ellie Mae to securely manage and facilitate the exchange of data across the ecosystem to enable the origination of mortgages, while maintaining strict adherence to various local, state and federal compliance requirements. Through its digital lending platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its over 3,000 customers and thousands of partners and investors participating on their open network who provide liquidity to the market. “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.”Įllie Mae was founded in 1997 with a mission to automate and digitize the trillion-dollar residential mortgage industry.
Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “We are excited to begin the next important chapter in our journey to digitize the residential mortgage industry,” said Jeffrey C. ATLANTA & PLEASANTON, Calif.-Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, today announced that it has received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae from leading private equity firm Thoma Bravo.
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