Potter Anderson Serves as Delaware Counsel to NYSE Owner on Deal to Buy Mortgage-Software Firm Ellie Mae
In a deal valued at $11 billion, Intercontinental Exchange (NYSE: ICE) has entered into a definitive agreement to acquire Ellie Mae, the leading cloud-based platform provider for the mortgage finance industry. ICE is the leading operator of global exchanges and clearing houses, including the New York Stock Exchange. The deal will establish ICE as the leading provider of end-to-end electronic workflow solutions serving the evolving U.S. residential mortgage industry. The transaction is expected to close in the third quarter or early fourth quarter of 2020.
Potter Anderson’s team served as Delaware counsel to ICE and included partners Michael Tumas, Michael Reilly and David DiDonato.
News of the deal was reported by the Wall Street Journal, Law360, and other major business and legal publications.