Envestnet, Inc. (NYSE:ENV), a leading provider of unified wealth
management technology and services to financial advisors, and
Yodlee, Inc. (Nasdaq:YDLE), the leading cloud-based platform
driving digital financial innovation, today announced that the
Registration Statement on Form S-4, including the proxy
statement/prospectus contained therein, filed by Envestnet with the
Securities and Exchange Commission (the "SEC"), in connection with
Envestnet's pending merger with Yodlee was declared effective by
the SEC on October 14, 2015. Yodlee will commence mailing the proxy
statement / prospectus to its stockholders on or about October 21,
2015.
Yodlee's special meeting of stockholders to vote on the related
merger agreement is scheduled to take place on November 19, 2015 at
10:00 a.m. California time. The meeting will be held at Yodlee's
headquarters at 3600 Bridge Parkway, Suite 200, Redwood City, CA
94065.
All stockholders of record of Yodlee's common stock as of the
close of business on October 12, 2015, will be entitled to vote
their shares either in person or by proxy at the stockholder
meeting.
Envestnet and Yodlee received early termination of the waiting
period required under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended, on September 14, 2015. Envestnet and
Yodlee expect that the transaction will close in the fourth quarter
of 2015, subject to approval by Yodlee stockholders.
Yodlee stockholders who need assistance in completing the proxy
card or voting instruction form or have questions regarding the
Yodlee special meeting may contact Yodlee's proxy solicitor:
Innisfree M&A Incorporated 501 Madison
Avenue, 20th Floor New York, New York 10024 Phone: (877) 825-8772
Banks & Brokers: (212) 750-5833
About Envestnet
Envestnet, Inc. (NYSE:ENV) is a leading provider of unified
wealth management technology and services to investment advisors.
Our open-architecture platforms unify and fortify the wealth
management process, delivering unparalleled flexibility, accuracy,
performance, and value. Envestnet solutions enable the
transformation of wealth management into a transparent,
independent, objective, and fully-aligned standard of care, and
empower advisors to deliver better outcomes.
Envestnet's Advisor Suite® software empowers financial advisors
to better manage client outcomes and strengthen their practices.
Envestnet provides institutional-quality research and advanced
portfolio solutions through our Portfolio Management Consultants
group, Envestnet | PMC®. Envestnet | Tamarac provides leading
rebalancing, reporting, and practice management software.
For more information on Envestnet, please visit
www.envestnet.com and follow @ENVintel
(https://twitter.com/envintel).
About Yodlee
Yodlee (Nasdaq:YDLE) is a leading technology and applications
platform powering dynamic, cloud-based innovation for digital
financial services. More than 900 companies, including 11 of the 20
largest U.S. banks and hundreds of Internet services companies,
subscribe to the Yodlee platform to power personalized financial
apps and services for millions of consumers. Yodlee solutions help
transform the speed and delivery of financial innovation, improve
digital customer experiences, and deepen customer engagement.
Yodlee is headquartered in Redwood City, CA with global offices
in London and Bangalore. For more information, visit
www.yodlee.com.
Cautionary Statement Regarding Forward-Looking
Statements
The forward-looking statements made in this press release by
Envestnet, Inc. (the "Company") are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements involve risks and uncertainties and the
Company's actual results could differ materially from the results
expressed or implied by such forward-looking statements.
Furthermore, reported results should not be considered as an
indication of future performance. The potential risks include the
Company's inability to complete its acquisition of Yodlee, Inc.
("Yodlee"), the Company's ability to successfully integrate Yodlee
or to obtain the benefits of that acquisition. More information
regarding these and other risks, uncertainties and factors is
contained in the Company's filings with the SEC which are available
on the SEC's website at www.sec.gov or the Company's Investor
Relations website at http://ir.envestnet.com/. You are cautioned
not to unduly rely on these forward-looking statements, which speak
only as of the date of this press release. All information in this
press release is as of the date hereof and, unless required by law,
the Company undertakes no obligation to publicly revise any
forward-looking statement to reflect circumstances or events after
the date of this press release or to report the occurrence of
unanticipated events.
Additional Information and Where to Find It
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. This communication may be deemed to be
solicitation material in respect of the proposed transaction
between Envestnet and Yodlee. In connection with the proposed
transaction, Envestnet has filed with the SEC a registration
statement on Form S-4, containing a proxy statement of Yodlee. The
final proxy statement/prospectus will be delivered to the
stockholders of Yodlee. This communication is not a substitute for
the registration statement, definitive proxy statement/prospectus
or any other documents that Envestnet or Yodlee may file with the
SEC or send to stockholders in connection with the proposed
transaction. STOCKHOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS
FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT/PROSPECTUS,
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION.
Stockholders are able to obtain copies of the proxy
statement/prospectus and other documents filed with the SEC (when
available) free of charge at the SEC's website, http://www.sec.gov.
Copies of documents filed with the SEC by Envestnet will be made
available free of charge on Envestnet's website at
www.envestnet.com. Copies of documents filed with the SEC by Yodlee
will be made available free of charge on Yodlee's website at
www.Yodlee.com.
Participants in Solicitation
Envestnet, Yodlee and their respective directors, executive
officers and other members of management and employees may be
deemed to be participants in the solicitation of proxies in respect
of the proposed transaction. Information about the directors and
executive officers of Envestnet is set forth in the proxy statement
for Envestnet's 2015 Annual Meeting of Stockholders, which was
filed with the SEC on April 13, 2015, and Envestnet's Annual Report
on Form 10-K for the year ended December 31, 2014, which was filed
with the SEC on March 2, 2015. Information about the directors and
executive officers of Yodlee is set forth in the proxy statement
for Yodlee's 2015 Annual Meeting of Stockholders, which was filed
with the SEC on April 10, 2015, and Yodlee's Annual Report on Form
10-K for the year ended December 31, 2014, which was filed with the
SEC on March 4, 2015. Other information regarding the participants
in the proxy solicitation and a description of their direct and
indirect interests, by security holdings or otherwise, is contained
in the proxy statement/prospectus and other relevant materials
filed with the SEC. You may obtain free copies of these documents
as described above.
CONTACT: Investors:
Investor Relations
Investor.relations@envestnet.com
(312) 827-3940
Public Relations:
Dana Taormina
JCPR
(973) 850-7305
dtaormina@jcprinc.com
Yodlee:
Investor Contact: Sheila B. Ennis
ICR, Inc.
IR@yodlee.com
(415) 430-2073
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