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Envestnet to acquire FolioDynamix


Monday, 25 Sep 2017 04:05pm EDT 

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. 

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