Envestnet, Inc. completed the acquisition of Truelytics, Inc. for $20.7 million.
July 30, 2022
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Envestnet, Inc. (NYSE:ENV) entered into an agreement and plan of merger to acquire Truelytics, Inc on May 10, 2022. Following the acquisition, Truelytics will operate as a wholly owned subsidiary of Envestnet The deal is not expected to have a material impact on Envestnet's results of operation or financial condition.
Envestnet, Inc. (NYSE:ENV) completed the acquisition of Truelytics, Inc. for $20.7 million on July 1, 2022. Envestnet paid estimated cash consideration of approximately $20.7 million, net of cash acquired, subject to certain post-closing adjustments. Envestnet funded the Truelytics acquisition with available cash resources.
Envestnet, Inc. is a provider of intelligent systems for wealth management and financial wellness. Its segments include Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment provides unified wealth management software, services and solutions to empower financial advisors and institutions to enable them to deliver holistic advice to their clients. Envestnet Wealth Solutions offers products and services, including Envestnet Enterprise; Envestnet Wealth Analytics; Envestnet Tamarac; Envestnet MoneyGuide; Envestnet Workplace Solutions; Envestnet PMC, or Portfolio Management Consultants, and Envestnet Billing Solutions (Redi2). Envestnet Data & Analytics segment offers data aggregation, analytics and digital experiences platforms. Envestnet Data & Analytics provides clients and their account holders with data connectivity via open application programming interface, data enrichment, artificial intelligence-based analytics and digital experiences.
ENVESTNET, INC. 
