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BRIEF-Envestnet to acquire FolioDynamix
September 25, 2017 / 9:02 PM / a month ago

BRIEF-Envestnet to acquire FolioDynamix

Sept 25 (Reuters) - Envestnet Inc

* Envestnet to acquire FolioDynamix

* Envestnet to acquire foliodynamix

* Envestnet Inc - ‍envestnet will acquire FolioDynamix in a cash transaction for $195 million​

* Envestnet Inc - ‍consolidating transaction is immediately accretive to adjusted EBITDA and adjusted net income per share​

* Envestnet Inc - as part of transaction, envestnet expects to acquire tax benefits valued at approximately $10 million

* Envestnet Inc - transaction will be funded by a combination of cash on Envestnet’s balance sheet and borrowings under its revolving credit facility

* Envestnet Inc - expects to achieve about $20 million from deal in identified cost synergies, within 36 months of closing Source text for Eikon: Further company coverage:

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