Reported about 1 year ago
Private equity firm Bain Capital is on the verge of purchasing Envestnet, a U.S. financial software provider, for approximately $3.5 billion. If successful, the deal could be announced this week and would value Envestnet close to its current stock price of $63. Envestnet offers technology solutions to financial advisers and wealth managers, and has previously faced challenges from activist investors. CEO Bill Crager announced a transition in leadership earlier this year, and the company had explored a sale in 2022 as well.
Source: YAHOO