Tuesday, August 11, 2015

Yodlee Acquired By Envestnet For $590M

Redwood City-based Yodlee, which provides a set of cloud-based APIs that help financial app developers pull information from financial institutions, has been acquired by Envestnet, the two said Monday. The two said that Envestment will pay $18.88 per share in cash and stock, or approximately $660M, for Yodlee. The deal has an enterprise value of approximately $590M, once you account for the cash on hand at Yodlee.