Activist investor Jana Partners is reportedly pressing Texas-based fintech software provider Alkami Technology to revive efforts to pursue a potential sale of the business, according to a report by Bloomberg.
The move comes as interest in consolidation opportunities across the financial technology sector continues despite broader weakness in software valuations.
According to Bloomberg, shareholder Jana believes Alkami remains an attractive acquisition target for either private equity buyers or strategic industry acquirers.
The renewed push comes months after Alkami engaged advisers to evaluate strategic alternatives and gauge interest from prospective bidders. Jana has previously argued that the company’s valuation does not fully reflect the strength of its franchise serving US community banks and credit unions.
Jana Managing Partner Scott Ostfeld publicly called for Alkami to explore a sale late last year, describing the business as undervalued amid a sharp selloff across software and fintech stocks.
Shares in Alkami rose more than 4% following reports of Jana’s latest intervention, although the stock remains down significantly over the past 12 months as investors reassess growth expectations across the fintech sector.
Market sentiment toward software-focused financial technology companies has weakened amid concerns that advances in artificial intelligence could disrupt traditional fintech operating models and compress long-term margins.
Founded in 2009 and headquartered in Plano, Texas, Alkami provides digital banking, payment and customer engagement software to regional financial institutions across the US.
Neither Alkami nor Jana Partners reportedly uimmediately commented on the latest reports.
