Sale of FolioDynamix to Actua gives exit to Wellington Financial

Actua Corp (NASDAQ: ACTA) has agreed to buy FolioDynamix Inc, a cloud-based investment and wealth management platform based in New York, for around US$199 million in cash. The transaction, which is expected to be completed in the fourth quarter, will give an exit to Canadian specialty finance firm Wellington Financial. In May 2012, Wellington provided FolioDynamix with US$4 million in venture debt, joining existing investors, which included U.S. venture capital firms Edison Ventures and ABS Capital. Founded in 2007, Actua targets its technology applications to financial advisers, professionals and institutions.

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