S1 Unit to Merge With Yodlee
S1
(SONE)
said its
VerticalOne
unit will merge with
Yodlee
, a privately held provider of account aggregation services.
Financial terms weren't disclosed. The merged companies will operate under the Yodlee name, and S1 will retain 32% ownership of the combined entity. Anil Arora, the president and chief executive of Yodlee, will serve as CEO of the company.
Combined, the two companies will have a total of 88 customers, including
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. The companies expect to complete the merger by the end of the year.
