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Patrick received a bachelor’s degree in philosophy and Asian studies from Dartmouth College, a master’s in philosophy (ethics) from Cambridge University as a Marshall Scholar, and a doctorate in philosophy (focusing on political theory, jurisprudence, and economics) from Stanford University. He has taught at the university level and frequently guest-lectures on business, the Internet, leadership and ethics.
Patrick served as chairman, president and CEO of Centricut, LLC, a manufacturer of industrial torch consumables, then held the same three positions at Fechheimer Brothers, Inc., a Berkshire Hathaway company that manufactures police, firefighter and military uniforms. Patrick Michael Byrne is the former CEO of Overstock.com, Inc., a Utah-based internet retailer that has been publicly traded since 2002.
In 2001, Patrick began Worldstock.com, Overstock.com’s socially responsible store for products handcrafted by artisans from developing nations and rural areas of the USA. To date, more than $30 million has been returned to Worldstock’s artisan suppliers.
A classical liberal, Patrick believes that our nation’s future depends primarily on a sound educational system and a healthy capital market. Towards those ends, Patrick serves with Rose Friedman as co-chair of the Milton & Rose Friedman Foundation for Educational Choice, supporting legislative reform to bring educational choice to parents. Patrick has also founded 19 schools internationally that currently educate more than 6,000 combined students.
In 2005, Patrick began a vigorous campaign against corruption in our capital markets through securities manipulation. His stance quickly caught the attention of Wall Street analysts and reporters and remains a point of high controversy today. The Deep Capture website grew out of this campaign.
https://www.deepcapture.com/
https://www.deepcapture.com/patrick-byrne/
NYSE-owner ICE to buy Ellie Mae in $11 billion deal
Intercontinental Exchange Inc (ICE) said on Thursday it would buy Ellie Mae, a technology platform for the mortgage finance industry, from private equity firm Thoma Bravo (-sold Dynatrace in June see below) in a deal valued at $11 billion. Strengthening its position in mortgage servicing has been a key focus for the owner of the New York Stock Exchange in recent years. Jeffrey Sprecher, chairman and chief executive of ICE, said in a statement the transaction represented a “one-of-a-kind opportunity” that would “enhance ICE’s growth strategy in mortgage technology”. Buying Ellie Mae was expected to be accretive to ICE’s adjusted earnings per share in the first full year of ownership, the statement added. The transaction is expected to yield a substantial profit for Chicago-based Thoma Bravo, which only completed the $3.7 billion take-private acquisition of Ellie Mae in April 2019. ICE will fund its Ellie Mae purchase, which is expected to close before the end of 2020, predominantly using cash, with 16% of the value covered by the issuance of new ICE common stock.
Of course!
https://www.reuters.com/article/eliie-mae-ma-ice/update-1-nyse-owner-ice-to-buy-ellie-mae-in-11-billion-deal-idUSL4N2F855G
Ellie Mae Inc. is a software company that processes 35% of U.S. mortgage applications. The services are based on a software as a service model (SaaS) that streamlines and automates the process of originating and funding new mortgage loans and facilitating regulatory compliance. The company was founded in 1997 by Limin Hu and Sigmund Anderman, and is headquartered in Pleasanton, California. In April 2019, Ellie Mae was acquired by Thoma Bravo, LLC, a private equity investment firm, in an all-cash transaction that valued Ellie Mae at an aggregate equity value of approximately $3.7 billion. The acquisition was announced on February 12, 2019 and closed on April 17, 2019. In January 2014, Ellie Mae finally completed the acquisition of MortgageCEO (focusing on CRM). Also in January 2014, Ellie Mae completed the acquisition of ARG Interactive, LLC. In 2008 Ellie Mae acquired the assets of Online Document Systems Inc. from Stewart Lender Services Inc. Since 2008 it has acquired Mavent Inc. (2009), Del Mar DataTrac (2011), Mortgage Pricing Systems (2011), MortgageCEO (2013), and AllRegs, an Eagan, Minnesota-based information provider for the mortgage industry (2014). In September 2013, Ellie Mae introduced the updated mortgage-management system Encompass360 to help underwriters comply with the latest federal mortgage rules in beginning in 2014. This system features debt-to-income calculators, discount assessment, & tools for evaluating a given loan's quality. In 2009, Ellie Mae was accused by DocMagic, a competitor, of violating antitrust and intellectual property laws around actions taken when the vendor agreement between the two companies expired. The two companies settled the lawsuit after three years of litigation.
https://en.wikipedia.org/wiki/Ellie_Mae
Thoma Bravo sales of Dynatrace, Inc on June 5 for $1.01B
Dynatrace Inc offers software intelligence platform for the enterprise cloud. The Company has designed its software intelligence platform to allow customers to modernize and automate information technology (IT) operations. Its product Dynatrace is able to provide real-time actionable insights about the performance of customers’ entire software ecosystem by integrating high fidelity, Web-scale data mapping its dependencies in real-time, and analyzing them with an open, deterministic artificial intelligence (AI) engine. Dynatrace has designed to maximize flexibility and control of the rich monitoring data captured and analyzed by platform. In also provides updates and enhancements automatically on a monthly basis while allowing customers the flexibility and control to adhere to their own data security and sovereignty requirements. Number of employees : 2 243 people.
https://www.marketscreener.com/DYNATRACE-INC-63216144/company/
https://www.finviz.com/insidertrading.ashx?oc=1813487&tc=7
09-0015 USAF C-32A departing Cleveland-Buke Lakefront Airport to Morristown, NJ
09-0017 USAF C-32A left Youngstown, OH and stalled for time
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