Exclusive-Alkami kicks off sale process after buyer interest, sources say

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)

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