Envestnet is exploring options after receiving takeover interest, Matthew Monks and Crystal Tse of Bloomberg report, citing people familiar with the matter. Envestnet has recently been approached by at least one private equity firm and is evaluating the takeover interest, but no transaction is imminent, sources told Bloomberg. Monks and Tse note that the wealth management software company has been subject to takeover speculation since its CEO Judson Bergman and his wife died in a car accident in 2019. Shares of Envestnet are up 12% to $73.70 following the report.
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