WASHINGTON (dpa-AFX) - Carlyle (CG) and Invesco (IVZ) announced an agreement for Carlyle to acquire intelliflo from Invesco. Intelliflo is a provider of cloud-based practice management software for independent financial advisors in the UK. Headquartered in London, intelliflo offers an end-to-end software platform used by over 30,000 professionals at approximately 2,600 advisory firms. The transaction includes intelliflo's US-based subsidiaries, including RedBlack.
The purchase price of up to $200 million is comprised of $135 million at closing, which is expected in the fourth quarter, and up to an additional $65 million in potential future earn outs. Intelliflo's US-based subsidiaries will be established as a standalone business called RedBlack, run by a separate management team.
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