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Envestnet buys Wheelhouse Analytics

Chester County software merger

Envestnet Inc., a publicly-traded Chicago investment-systems firm which earlier this year picked Chesterbrook as its new software development center, says it has purchased Wheelhouse Analytics LLC, for an undisclosed sum, and will combine Wheelehouse tools with its own Yodlee-brand "data and analytics solutions. " The price wasn't disclosed.

Wheelhouse cofounder Frank Coates was named executive vice president of the buyer's Yodlee | Envestnet unit, reporting to unit CEO and Envestnet vice chair Anil Arora.

Wheelhouse, founded in 2010 by Coates and Todd Buck, employs around a dozen building data analytics, mobile-sales solutions and online-education services for investment professionals. Envesetnet has been a Wheelhouse client since 2014. Others include Macquarie's Delaware Investments and Clark Capital, both based in Center City; Brinker Capital, Berwyn; Hartford Funds, Radnor.