Envestnet Inc. has agreed to acquire Placemark Holdings Inc. for $66 million in cash. Placemark Chairman and CEO Lee Chertavian will join Envestnet as Group President of Envestnet|Placemark, and others of the most senior members of Placemark’s management team will have significant roles at Envestnet.
The integration of Placemark onto the Envestnet platform will be done slowly, with the final integration coming by late 2015 or early 2016, while the acquisition deal itself is expected to close by early Q4 2014.
John Adams is a writer for NAPA Net.
