FRANCHISE HERALD
Thursday October 29, 2020

updated - October 29, 2020 Thursday EDT

Envestnet to Acquire Yodlee, Enhances Company's Platform

Aug 11, 2015 11:51 PM EDT | By Jean-Claude Arnobit
Tags
Envestnet Inc., Yodlee Inc, acquisition
Close
Envestnet to Acquire Yodlee, Enhances Evestnet's Platform and Deliver Value
(Photo : Carlos de Andres | Getty Images News)

Envestnet, Inc. a leading provider of unified wealth management technology and services to financial advisors has announced that it will acquire Yodlee, Inc. for approximately $590 million, according to a press release issued by Envestnet.

The deal will enhance Envestnet's platform, allowing it to deliver more value.

The data aggregation solutions of Yodlee, the leading cloud-based platform driving digital financial innovation, and the end-to-end wealth management platform of Envestnet provides advisors the ability to cross the digital divide and provide a broader visibility into the clients' financial well-being, according to the press release.

Both functions are significant to come up with better decisions and better outcomes.

The Wall Street Journal adds transaction data are useful for firms investing in companies that are largely dependent on retail sales.

The data can show if quarterly revenues of a company will likely be higher or lower, providing investing firms with to gauge whether the company is a good opportunity to invest in or not.

"The acquisition of Yodlee is a watershed moment in the financial technology industry," Jud Bergman, chairman and CEO of Envestnet said in the press release.

"The union of these two pioneers will enable investors and the advisors who serve them to access and make better sense out of their disparate and complicated financial data," he added.

Under the terms of the agreement, Envestnet will pay in cash and stock Yodlee for $18.88 per share, a 50 percent premium from Yodlee's Friday stock price close, according to the press release.

The per share deal price consists of $10.78 per share in cash and $8.10 per share in Envestnet stock.

The transaction is expected to close in the fourth quarter of 2015 or in the first quarter of 2016, according to the press release.

The deal is subject to customary closing conditions, as well as approval by Yodlee stockholders. 

Get the Most Popular Franchiseherald Stories in a Weekly Newsletter
© 2015 Franchise Herald. All rights reserved.
>>>>>>> 10460c7d066ded6bd40ea293096592303635a9b7 <<<<<<< HEAD ======= >>>>>>> 10460c7d066ded6bd40ea293096592303635a9b7
<<<<<<< HEAD ======= >>>>>>> 10460c7d066ded6bd40ea293096592303635a9b7

Connect With Franchise News

Email Newsletter

TOP 10 FRANCHISES OF 2020

  • RANK
    FRANCHISE NAME
    STARUP COSTS
  • 1nc
    Hampton Hotels
    $3.7M - 13.52M
  • 2nc
    Subway
    $85.2K - 260.35K
  • 3up
    Jiffy Lube Int'l. Inc.
    $196.5K - 304K
  • 4down
    7-Eleven Inc.
    $30.8K - 1.64M
  • 5up
    Supercuts
    $103.55K - 196.5K
  • 6up
    Anytime Fitness
    $56.3K - 353.9K
  • 7down
    Servpro
    $133.05K - 181.45K
  • 8down
    Denny's Inc.
    $1.18M - 2.4M
  • 9down
    McDonald's
    $1M - 2.16M
  • 10down
    Pizza Hut Inc.
    $295K - 2.15M
Real Time Analytics