eMoney Advisor founder Edmond Walters exited the three way venture that made up Apprise Labs by selling IP assets (for a dashboard product) to one of his partners and rebranding under the name Villanova Technologies.
Walters sold eMoney to Fidelity Investments for $250 million in 2015.
The publication RIABIZ reported that Walters sold his IP assets in Apprise Labs to his Chicago-based. partner Envestnet, with a promise of offering future help in the development of the IP. Its not clear whether the deal included equity rights.While Walters didn’t give up rights to the Apprise name, he is shelving it for now and will do business under the Villanova Technologies name.
Villanova Tech’s software will be targeted at advisors, who want to help clients who own small companies by providing a dashboard of key operational data. It will not, at this time, be financial planning software (as eMoney Advisor is). .A preview of the product is expected this summer, and a full release by the end of the year.