Mortgage lending software provider Ellie Mae Inc. says it has an agreement to acquire MortgageCEO, a provider of on-demand customer relationship management (CRM) and marketing automation solutions for the mortgage industry.

Ellie Mae says the acquisition expands Ellie Mae’s market position and adds additional functionality to its Encompass product offering.

Pleasanton, Calif.-based Ellie Mae, which also reported third-quarter profits of $7.1 million on revenue of $33 million, has been identified as a possible acquisition or takeover target itself. Source: sec.gov

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