Envestnet to Acquire Yodlee
Combination accelerates the transformation of financial technology by delivering better relationships and greater lifetime value by connecting financial advisors, individuals and financial services providers
Transaction expected to increase revenue and adjusted EBITDA growth rate
CHICAGO & REDWOOD CITY, Calif.---- Envestnet, Inc. (ENV), a leading provider of unified wealth management technology and services to financial advisors, and Yodlee, Inc. (Nasdaq: YDLE), the leading cloud-based platform driving digital financial innovation, today announced that the Boards of Directors of both companies have unanimously approved a definitive agreement under which Envestnet will acquire all of the shares of Yodlee in a cash and stock transaction valued at $18.88 per share, or approximately $660 million on a fully-diluted equity value basis. As Yodlee has approximately $70 million in cash and cash equivalents, the transaction reflects an enterprise value of approximately $590 million.
- Published: 11 August 2015
- Written by Editor