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Home>Envestnet to Acquire FolioDynamix

Envestnet to Acquire FolioDynamix

Envestnet to Acquire FolioDynamix

09/26/2017

Envestnet to Acquire FolioDynamix

Combined firm will support nearly $2 trillion in platform assets and approximately 10 million investor accounts

Consolidating transaction is immediately accretive to adjusted EBITDA and adjusted net income per share

Combination expands Envestnet’s industry footprint, furthering Envestnet’s growth and wealth technology consolidation strategy

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.

“Acquiring FolioDynamix advances our growth strategy and creates value for our shareholders,” said Jud Bergman, Chairman and CEO of Envestnet. “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. Together, we will have the broadest, integrated suite of products and services for enterprises and financial advisors, boosting their productivity. We are eager to welcome and continue to serve FolioDynamix’s clients.”

FolioDynamix, 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. As of June 30, 2017, FolioDynamix platform solutions supported more than 3.2 million investor accounts with over $800 billion in assets. The acquisition will add complementary trading tools as well as commission and brokerage support to Envestnet’s existing suite of offerings.

“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. “Integrating FolioDynamix’s powerful trading tools into Envestnet’s unified wealth management, financial planning and data analytics platform offers each of our customers the best of both worlds.”

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