Reuters surfaces more details on potential Ellie Mae sale

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Ellie Mae, the Pleasanton, Calif.-based provider of software that’s used to originate about 1 in 5 U.S. mortgages, has retained Morgan Stanley to manage a sale of the company, Reuters reports, citing anonymous sources.

Based on today’s closing price of nearly $30 per share, investors currently value the publicly traded company at about $800 million — more than five times its value a year ago.

Last month, Bloomberg News reported that analysts think potential buyers like IBM and Accenture Plc might be willing to pay $35 to $38 a share for the company. Source: reuters.com.