Envestnet to buy Yodlee in $590 mln deal

Envestnet Inc. said Monday that it agreed to buy Yodlee Inc. for $18.88 a share or about $590 million. Redwood City, California-based Yodlee provides financial software. Warburg Pincus, which owns 27 percent, has voted to support the deal. Sandler O’Neill + Partners L.P is serving as financial advisor to Envestnet while Goldman Sachs advised Yodlee.

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