Financial Engines Reports Third Quarter 2015 Financial Results
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Financial Engines (FNGN) Tops Q3 EPS by 1c; Will Acquire The Mutual Fund Store in $560M Deal
November 5, 2015 5:03 PM ESTFinancial Engines (NASDAQ: FNGN) reported Q3 EPS of $0.24, $0.01 better than the analyst estimate of $0.23. Revenue for the quarter came in at $78 million versus the consensus estimate of $79.42 million.
Financial Engines also announced that it has signed a definitive agreement to acquire The Mutual Fund Store, L.L.C. (The Mutual Fund Store), a prominent nationally-branded independent Registered Investment Adviser, from Warburg Pincus and management for total consideration of approximately $560 million, including cash and stock. The transaction is expected to produce 2016 earnings per share accretion of approximately 25%, assuming the transaction closes late in the... More
