Edition:
United Kingdom

Envestnet To Buy Pietech In A Deal Valued At $500 Mln


Thursday, 14 Mar 2019 

March 14 (Reuters) - Envestnet Inc ::ENVESTNET - TO BUY PIETECH FOR $295 MILLION CASH AND ABOUT 3.185 MILLION SHARES OF CO.ENVESTNET TO ACQUIRE PIETECH, CREATOR OF MONEYGUIDE FINANCIAL PLANNING APPLICATIONS.ENVESTNET INC - DEAL EXPECTED TO BE IMMEDIATELY ACCRETIVE TO ADJUSTED EBITDA AND ADJUSTED NET INCOME PER SHARE.ENVESTNET INC - DEAL FOR TOTAL VALUE OF CONSIDERATION IS EQUAL TO APPROXIMATELY $500 MILLION.ENVESTNET INC - TO ACQUIRE PIETECH FOR $295 MILLION IN CASH, SUBJECT TO CERTAIN ADJUSTMENTS, AND APPROXIMATELY 3.185 MILLION SHARES OF ENVESTNET COMMON STOCK.. 

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