Velocify’s lead management engagement and distribution capabilities will be combined with Ellie Mae’s Encompass CRM to enhance the firm's digital mortgage offering.
“As part of our comprehensive strategy to deliver the first true digital mortgage to the industry, we are helping lenders to originate more loans, reduce costs, and complete the entire mortgage process faster,” said Jonathan Corr, president and CEO of Ellie Mae. “The acquisition will enable us to provide the first combined solution that helps lenders turn consumer interest into applications by offering a personalized, high-tech and human-touch experience.”
Velocify’s president and CEO Nick Hedges added that the digital transformation underway across the mortgage industry will mean successful sales teams combining an end-to-end digital experience with a human touch as required by consumers.
“The team at Velocify has built the leading software solution for consumer sales engagement during the early stages of the sales process. By joining forces with Ellie Mae we are very excited to extend that capability throughout the consumer buying cycle,” Hedges said.
Ellie Mae will acquire Velocify for $128 million in cash. The transaction is expected to close in the fourth quarter of 2017.
More market update:
Mortgage software firm Ellie May is to acquire sales acceleration platform Velocify.