A PYMNTS Company

US: Envestnet buys fin-tech company Yodlee for $590 million

By  |  August 12, 2015

Financial services software company Envestnet announced this week that it has acquired financial data mining and technology company Yodlee in a cash and stock transaction valued at $18.88 per share, or approximately $660 million. After incorporating about $70 million in cash and cash equivalents, the deal is valued at about $590 million.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Founded in 1999, Yodlee powers a technology that allows banking institutions and online financial managers to aggregate consumer financial data. It allows consumers to aggregate their credit card statements, bank accounts, and investment portfolio in one website. Its customers include 11 of the 20 largest U.S. banks ranked by assets, according to a recent Wall Street Journal report.

    Over the past year, it created a smaller unit, Yodlee Interactive, which provides application program interfaces to startups in the financial sector, as well as an accelerator program for startups.

    Full content: Market Watch

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.