STG Buys Financial Data Firm Yodlee

In the US, financial sector technology and data firm Yodlee has been acquired by STG, the private equity firm whose 50 plus portfolio companies include SurveyMonkey, Onclusive and Escalent. Former owner Envestnet will continue to work closely with Yodlee.

Yodlee serves as a data aggregation and analytics platform for major banks and financial service firms, helping them to grow their businesses and drive customer satisfaction.

STG is the owner of Escalent, Onclusive - former when it merged Kantar Reputation Intelligence with two other acquired companies - and DIY research pioneer SurveyMonkey. The group has exited from investments in many other research sector firms including IRI and Simmons.

Yodlee says the buy enables it to launch 'a new, independent brand with a bold mission: to power the next chapter of connected financial experiences'. STG's backing and guidance will help the firm to scale, evolve its Open Finance solutions more quickly, and promote its services more aggressively.

'Yodlee is stepping forward with a revitalized identity and an even greater ambition,' comments CEO Farouk Ferchichi (pictured), 'to empower the financial services industry with enterprise-grade intelligence, innovation, and human-centered design.' He adds: 'STG's proven leadership in software, data and analytics gives us the strategic advantage to accelerate innovation and better serve our customers.'

Web sites: www.Yodlee.com and www.stg.com