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.
The report cites unnamed people familiar with the matter as saying that Alkami’s advisers began approaching private equity firms over the past week following unsolicited interest from prospective acquirers.
The process remains at an early stage and there is no guarantee that it will result in a transaction, the sources said.
The move follows growing pressure from Jana, which has argued that Alkami has not been conducting a meaningful process to explore strategic alternatives.
Jana disclosed a 5.1% stake in Alkami in April, having built its position during 2025. The activist investor has maintained that the digital banking technology company is undervalued and should consider a sale to either a strategic buyer or private equity.
Based in Plano, Texas, Alkami provides cloud-based software to banks and credit unions, offering services spanning digital account opening, payments, fraud prevention, data analytics and customer engagement.
The company has a market capitalisation of roughly $2bn, while its shares have declined about 15% over the past year as investors have become increasingly concerned about slowing growth and a more challenging spending environment across financial technology.
