ENVESTNET, INC. ANNOUNCES DEFINITIVE AGREEMENT TO SELL YODLEE, INC. TO STG

BERWYN, Pa., June 25, 2025 /PRNewswire/ -- Envestnet, Inc. today announced it has entered into a definitive agreement to sell Yodlee, Inc., its open finance and data analytics subsidiary, to STG, a private equity firm focused on fueling innovative software, data, and analytics market leaders. The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions.

This strategic divestiture positions Yodlee for accelerated growth and continued client support under STG's stewardship. Founded in 2002 and previously known as Symphony Technology Group, STG has a proven history of propelling market leaders through its deep experience, flexible approach, and over $12 billion in assets under management as of March 2025. Yodlee, a leader in open finance, data aggregation, and analytics, will become part of STG's expanding global technology portfolio that includes prominent companies such as RSA, Trellix, and SurveyMonkey.

"Yodlee sits at the intersection of trusted data access and intelligent analytics," said Marc Bala, Managing Director at STG. "It has built deep integrations across the financial ecosystem and earned the confidence of the world's leading banks, asset managers, and wealth platforms. We are excited to partner with the team to accelerate their investment in product innovation, customer success, and long-term growth. We welcome Yodlee to the STG family."

"This transaction is the first step in our value creation plan as a private company and will allow Envestnet to focus more deeply on its core connected wealth management platform, advanced insights and comprehensive solutions," said Chris Todd, CEO of Envestnet. "Through our continued partnership with Yodlee, advisors will retain access to Yodlee data aggregation technology that helps power their business." 

STG intends to leverage its transformation experience to help Yodlee deliver increased value to clients, attract and retain top talent, and achieve best-in-class business performance. With a focus on customer-centric innovation, the firms aim to rapidly invest in technologies and deliver enhanced solutions to the financial sector.

Going forward, Yodlee's leadership and team will play an essential role ensuring clients experience seamless, high-quality service continuity while benefiting from focused, forward-looking growth strategies tailored to their evolving needs.

Following the close of the transaction, Yodlee will operate with greater agility to pursue innovation and capitalize on emerging market opportunities. Backed by enhanced investment and a leaner operating model, Yodlee expects to accelerate speed-to-market and deliver next-generation solutions across the open finance ecosystem.

Paul Hastings LLP acted as legal advisor, KPMG LLP acted as transaction advisor, Jefferies LLC acted as lead financial advisor and RBC Capital Markets as co-advisor to STG.

Ropes & Gray LLP acted as legal advisor and BofA Securities acted as exclusive financial advisor to Envestnet.

About Envestnet

Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights, and comprehensive solutions—backed by industry-leading service and support. Serving the wealth management industry for 25 years with approximately $6.5 trillion in platform assets, Envestnet technology and services are trusted by more than one-third of all financial advisors. Many of the largest U.S. banks, wealth management and brokerage firms, and RIAs depend on Envestnet to help drive business growth and productivity—and deliver better outcomes for their clients.

For a deeper dive into how Envestnet is shaping the future of financial advice, visit www.envestnet.com. Stay connected with us for the latest updates and insights on LinkedIn and X (@Envestnet_). 

Envestnet refers to the family of operating subsidiaries of the holding company, Envestnet, Inc.

About Yodlee

Yodlee, Inc. is a global leader in open finance, data aggregation, and analytics, providing secure data access and advanced insights to financial institutions and their clients. With a 25-year history of innovation, Yodlee's platforms power smarter financial decisions and fuel growth across the financial ecosystem. For more information, visit www.Yodlee.com.

About STG

STG is a private equity firm specializing in investments in software, data, and analytics companies in the mid-market. With more than $12 billion in assets under management, STG partners with management teams to build customer-centric, market-winning businesses and has a global investment portfolio of more than 50 innovative companies. For more information, visit www.stg.com.

SOURCE Envestnet