Velocify Now Part Of Ellie Mae

Los Angeles-based Velocify, the developer of lead management software, is now officially part of Ellie Mae, Ellie Mae said late Monday afternoon. Ellie Mae paid $128M for Velocify. Ellie Mae said the acquisition will help in its efforts to deliver digital mortgage capabilities, and that it will integrate Velocify's lead management, engagement and distribution capabilities within its Encompass CRM tool. Nick Hedges, former president and CEO of Velocify, will become a senior vice president at Ellie Mae as part of the acquisition deal.