As part of the transaction, Envestnet expects to acquire tax benefits valued at approximately $10 million. Integrating FolioDynamixs powerful trading tools into Envestnets unified wealth management, financial planning and data analytics platform offers each of our customers the best of both worlds.Įnvestnet will acquire FolioDynamix in a cash transaction for $195 million, subject to certain closing adjustments. We are excited to join forces with Envestnet, enabling us to expand how we serve our customers, said Joseph Mrak, Chairman and CEO of FolioDynamix. The acquisition will add complementary trading tools as well as commission and brokerage support to Envestnets existing suite of offerings. As of June 30, 2017, FolioDynamix platform solutions supported more than 3.2 million investor accounts with over $800 billion in assets. We are eager to welcome and continue to serve FolioDynamixs clients.įolioDynamix, an Actua company (Nasdaq: ACTA), provides financial institutions, registered investment advisors, and other wealth management clients with an end-to-end technology solution paired with a suite of advisory tools including model portfolios, research, and overlay management services. Together, we will have the broadest, integrated suite of products and services for enterprises and financial advisors, boosting their productivity. This acquisition, our sixth significant transaction since 2010, expands our industry footprint, allowing us to further leverage our operating scale and data analytics capabilities as we continue to build the financial wellness network and help our clients deliver better outcomes. ∺cquiring FolioDynamix advances our growth strategy and creates value for our shareholders, said Jud Bergman, Chairman and CEO of Envestnet. Combined firm will support nearly $2 trillion in platform assets and approximately 10 million investor accountsĬonsolidating transaction is immediately accretive to adjusted EBITDA and adjusted net income per shareĬombination expands Envestnets industry footprint, furthering Envestnets growth and wealth technology consolidation strategyĬhicago, IL September 25, 2017 Envestnet (NYSE: ENV), a leading provider of intelligent systems for wealth management and financial wellness, today announced that it will acquire FolioDynamix, a provider of integrated wealth management technology solutions.
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