The move comes as the companies completed the calculation of the per share cash consideration and per share stock consideration applicable to the acquisition.
Yodlee is an American software company that develops an account aggregation service that allows users to see their credit card, bank, investment, email and travel reward accounts on one screen.
In addition, Yodlee Labs, a free web application helps consumers manage their finances online by providing bill payment, expense tracking, and investment management.
The acquisition, announced in August this year, has been closed after receiving all necessary regulatory approvals and Yodlee’s stockholders approval.
Under the agreed terms, Yodlee stockholders will receive $11.51 in cash and 0.1889 of a share of Envestnet common stock per Yodlee share.
Envestnet CEO Jud Bergman said: "Yodlee’s pioneering data aggregation solutions greatly strengthen Envestnet’s broadly integrated wealth management platform and solve a mission critical problem that advisors and their clients are facing today – efficient client onboarding and comprehensive planning over all of the client’s assets.
"Advisors seeking solutions that will enable them to serve and add value to their clients for their lifetime will find the combined Envestnet-Yodlee offerings to be compelling."
More than 950 companies globally use Yodlee’s services to power personalized financial apps and services for millions of consumers driving retention, engagement, and revenue.
Yodlee CEO Anil Arora has been appointed as CEO of Envestnet|Yodlee.
