Wealth management technology giant Envestnet is acquiring PIEtech, Inc., the creator of MoneyGuide applications, Envestnet says.

Envestnet is offering $295 million in cash, subject to certain adjustments, and around 3.185 million shares of Envestnet common stock based on the closing price on March 13, which brings the total value of the deal to around $500 million, according to a press release from Envestnet.

The deal is expected to close in the middle of the year, according to the company.

PIETech’s MoneyGuide applications are integrated by more than 150 wealth management data and technology providers and used by tens of thousands of financial advisors, Envestnet says in a press release.

Envestnet’s services, meanwhile, are used by more than 96,000 advisors at some of the biggest banks and brokerage firms and more than 500 RIAs, the company says.

The acquisition aims to provide “deeper integration” of MoneyGuide applications on Envestnet’s technology platform and grow the firm’s ability to offer planning and financial wellness services domestically and internationally, according to Envestnet. It’s also aimed at helping financial advisors be more productive, the company says.

“We founded PIEtech in 1997 to empower financial advisors to use financial planning to efficiently motivate their clients to create, implement and maintain financial plans that best meet their lifetime financial goals,” Bob Curtis, founder and co-CEO of PIEtech, says in the press release. “Now a leader in financial planning, the PIEtech team is excited to join forces with Envestnet, who will be a great partner for our customers. We are believers in Envestnet’s vision for enabling financial wellness, and look forward to engaging with our customers with an increasingly broad set of solutions to provide lasting value to financial advisors and their clients.”

Envestnet has been taking strides to reach more financial advisors through technology partnerships in recent months.

In November, BlackRock took a 4.9% stake in the company, for about $122 million, in a move meant to integrate each other’s advisor-facing technologies.