Mortgage software company Ellie Mae (ELLI) has hired Morgan Stanley (MS) to try and sell the company, Reuters reported Tuesday.
The sales process for Ellie Mae, which has a market capitalization of $768.6 million, is expected to begin in the next few weeks, and a number of parties, particularly private equity firms, are expected to take a look at the company, one of the sources said.
Pleasanton, California-based Ellie Mae's software is used in around 20% of all mortgages in the United States, according to the company.
