Envestnet to buy FolioDynamix for $195 mln

Envestnet said Sept. 25 that it will buy FolioDynamix for $195 million. Actua Corp is the seller. FolioDynamix, of Secaucus, New Jersey, provides financial institutions, registered investment advisors, and other wealth management clients with technology software. J.P. Morgan Securities LLC provided financial advice to Envestnet, while Mayer Brown LLP served as legal counsel to Envestnet. Evercore is serving as financial advisor and Dechert LLP is serving as legal counsel to Actua.

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