Thursday, February 16, 2012

Tamarac Acquired By Envestnet

Seattle-based Tamarac, a developer of portfolio management technology aimed at investment advisors, has been acquired by Envestnet, a provider of wealth management software for financial advisors. Envestnet said the acquisition was worth $4M in cash. Envestment said it was advised by Sandler O'Neill + Partners, L.P. and Tamarac and Mayer Brown LLP in the deal; Tamarac was advised by legal counsel McNaul Ebel Nawrot & Helgren. Tamarac was founded by Clive Matthew Springer in 2000.