Envestnet Announces Effectiveness of the Proxy Statement / Prospectus on Form S-4 for the Acquisition of Yodlee and Date for the Special Meeting of Stockholders of Yodlee to Vote on the Transaction
Transaction on Track to Close in the Fourth Quarter of 2015
CHICAGO and REDWOOD CITY, Calif., Oct. 19, 2015 (GLOBE NEWSWIRE) -- 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
Released October 19, 2015