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Envestnet buys MoneyGuide, for $500m

B2B information.  Envestnet, a leading provider of systems for wealth management and financial wellness is to acquire PIEtech, Inc, creator of the MoneyGuide financial planning applications. Envestnet will acquire PIEtech for consideration consisting of $295m in cash, subject to certain adjustments, and approximately 3.185m shares of Envestnet common stock. Based on the closing price of Envestnet’s stock on March 13, 2019, the total value of the consideration equates to approximately $500m.