By Milana Vinn
NEW YORK, Aug 6 (Reuters) – Digital banking software provider Alkami Technology has formally launched a sale process after drawing acquisition interest from potential buyers amid mounting pressure from activist investor Jana Partners, according to people familiar with the matter.
The Plano, Texas-based company’s advisers began contacting private equity firms over the past week following the inbound interest, the sources said.
The discussions are in their early stages and no deal is guaranteed, the sources said, speaking on condition of anonymity because the matter is confidential.
Alkami did not immediately respond to a request for comment.
The process comes on the back of activist investor Jana Partners contending Alkami was failing to run a genuine sale process, according to a Bloomberg report last month.
Alkami provides cloud-based digital banking software and related services to banks and credit unions, including account opening, payments, fraud protection, data analytics and customer engagement tools.
Jana disclosed a 5.1% stake in Alkami in April after building its position in the company in 2025.
Reuters previously reported that the hedge fund believed Alkami’s shares were undervalued and had urged the company to explore a sale to a strategic buyer or private equity firm.
Alkami has a market value of about $2 billion. Its shares have fallen about 15% over the past 12 months amid concerns over slowing growth and a tougher spending environment for financial technology companies.
(Reporting by Milana Vinn in New York; Editing by Colin Barr and Will Dunham)
Comments