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Will Bain Take Envestnet Out?
(Reuters) Private equity firm Bain Capital is nearing a deal to acquire Envestnet, a U.S. financial software vendor with a market value of about $3.5 billion, people familiar with the matter said on Monday.
If the negotiations conclude successfully, a deal with Bain could be announced as soon as this week and would value Envestnet at close to its current stock price, the sources said. Envestnet shares are hovering at around $63.
The sources requested anonymity because the matter is confidential. Envestnet and Bain did not immediately respond to requests for comment.