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Ellie Mae Inc. said Aug. 15 that it has acquired Del Mar Datatrac Inc., a privately held company, for $17.2 million cash at closing and future cash payments of $3.0 million, $3.0 million and $2.0 million to be paid over the next three years.
Del Mar's operations will remain based in San Diego and its sales, technology, support and business development teams will continue to support its clients and partners.
Del Mar Chairman Jeb Spencer has joined Ellie Mae's board, and Rob Katz has been named executive vice president of product strategy at...