Reuters: Ellie Mae hires Morgan Stanley to help sell company

|About: Ellie Mae, Inc. (ELLI)|By:, SA News Editor

Sources claim Ellie Mae's (ELLI +3.2%) sales process is "expected to begin in the next few weeks, and a number of parties, particularly private equity firms, are expected to take a look."

Bloomberg reported a month ago the mortgage origination software vendor is "considering a sale and has interviewed banks to manage the process."

Ellie Mae spiked higher just before the close thanks to Reuters' report. Shares are 8% below their 52-week high of $32.61 (set after Bloomberg's report).