Denver-based Prima Capital Holding Inc., a maker of asset allocation and wealth management tools, has agreed to a $13.75 million cash sale to Chicago-based Envestnet Inc., a publicly traded provider of integrated wealth management solutions for financial advisors.
“Prima’s relationship with Envestnet enables us to continue delivering the top-quality products, services, and solutions to meet our clients’ evolving needs, with added resources for further innovation,” said Prima’s chief executive J. Gibson Watson III.
Watson founded Prima in 1999. He will become group president of Envestnet-Prima, a new business group at Envestnet.
The acquisition is expected to close April 15, pending the necessary approvals.
Read the full press release issued by .
