An $11 Billion Acquisition Catapults Intercontinental Exchange Into Mortgage Software
Intercontinental Exchange (NYSE: ICE) just made a huge bet on providing software for the residential housing market. The company closed its $11 billion acquisition of Ellie Mae in September, which sets it up to dominate the market for mortgage software used by mortgage originators, lenders, and record keepers.
The acquisition of Ellie Mae is remarkable for more than just its sheer size. Intercontinental Exchange is the owner of financial exchanges including the New York Stock Exchange, and the company has a track record of creating liquid financial markets and then making a killing by monetizing the data assets. Is Intercontinental Exchange preparing to transform the mortgage market too?
Source Fool.com
