UBS will buy the robo-advisory firm Wealthfront for $1.4 billion, the two companies announced Wednesday.
characterized the deal as an"all-cash transaction valued at $1.4 billion." According to the press statement,"Wealthfront's existing clients will see no immediate change to their experience and can look forward to benefiting from UBS's breadth of products, services, and intellectual capital."
"The transaction is currently expected to close in the second half of 2022, subject to closing conditions including regulatory approvals," per the release.
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