Tuesday, May 1, 2012

Tamarac Acquisition Completes

The acquisition of Seattle-based Tamarac, a developer of portfolio management tools for investment advisers, has completed, according to acquiring firm Envestnet. The deal, which was worth $4M in cash, was announced in February. Tamarac's portfolio management software is used by investment advisers to manage individual accounts for clients. Tamarac was founded in 2000, and was headed by Stuart DePina. Envestnet said DePinabecomes Group President of Envestnet | Tamarac.