Alkami launches sale process amid pressure from activist Jana
Digital banking software provider Alkami Technology has begun a formal sale process after attracting interest from potential buyers, putting the company firmly in play as activist investor Jana Partners continues to push for a transaction, according to a report by Reuters.
Alkami Technology, a digital banking software provider, has initiated a sale process amid pressure from activist investor Jana Partners, according to Reuters. The company, which offers cloud-based software to banks and credit unions, has attracted interest from potential buyers, with Alkami's advisers beginning to approach private equity firms.
The process is still in its early stages and there is no guarantee of a transaction. Jana Partners, which holds a 5.1% stake in Alkami, has been pushing for a sale, arguing that the company is undervalued. Alkami's market capitalization is approximately $2 billion, but its shares have fallen about 15% over the past year due to concerns over growth and a tougher economic environment in the financial technology sector.
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