Seeking Alpha

Envestnet, Inc. (ENV)

  • Mon, Aug. 10, 5:37 PM
    • Wealth management software firm Envestnet (NYSE:ENV) is acquiring cloud financial services software/data provider Yodlee (NASDAQ:YDLE) for $18.88/share, or $660M. After backing out $70M in cash on hand, the deal's enterprise value is $590M.
    • Envestnet/Yodlee: "Yodlee powers digital financial solutions for over 20 million paid users and over 850 financial institutions and financial technology innovators ... the company has built a network of over 14,000 data sources and been awarded 72 patents ... The combination of Envestnet's end-to-end wealth management platform and Yodlee's data aggregation solutions will deliver more value through the Envestnet platform than ever before."
    • Envestnet is paying $10.78/share in cash and $8.10/share in stock. The cash portion will be partly financed via $200M in debt. The deal is expected to close in Q4 2015 or Q1 2016.
    • The announcement comes in tandem with each company's Q2 report. Yodlee has soared to $18.20 in AH trading.
    • Q2 results: Envestnet, Yodlee
    | Mon, Aug. 10, 5:37 PM | 2 Comments
ENV vs. ETF Alternatives
Company Description
Envestnet Inc provides unified wealth management software and services to financial advisors and institutions.