Wed, Aug. 12, 12:44 PM
Tue, Aug. 11, 5:38 PM
Tue, Aug. 11, 12:45 PM
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
Thu, Jul. 9, 10:23 AM
- Pandora (P +4.7%), GSV Capital (GSVC +3.1%), Tangoe (TNGO +3.4%), and Envestnet (ENV +4.9%) are outperforming after receiving Outperform ratings from Northland Securities. Price targets are respectively at $20, $13, $18, and $50.
- Northland's Jeff Houston (formerly with Barrington Research) on GSV: "GSV provides investors with access to disruptive, emerging-growth (100% growth on average), privately-held, pre-IPO companies at discounts. The fund typically invests alongside venture capitalists with the best track records, such as Kleiner Perkins, IVP, and Benchmark. At the end of 1Q15, it had positions in 46 private and four public companies and the theme mix was education tech 35%, cloud 29%, social/mobile 22%, marketplaces 9%, and sustainability 6%."
- Houston on Tangoe: ""Tangoe's SaaS and technology-enabled services optimize $29.9 billion of IT spend for more than 1,000 large and midsize organizations. Its flagship offerings address mobile and fixed communications spend and newer products address Cloud (SaaS and infrastructure), IT, and machine-to-machine (M2M) spend ... Clients typically enjoy a 3-10x annual ROI through savings and enhanced productivity." He also provided bullish commentary on the company while at Barrington.
- Pandora's Q2 report arrives on July 23. Shares -14% YTD.
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