Financial technology company Envestnet is weighing its options, including a possible sale, after receiving acquisition interest, Reuters reported, citing people familiar with the situation.
The wealth management platform based in Berwyn, Pa., has tapped Morgan Stanley to speak with potential suitors, Reuters reported Tuesday. Private equity house Bain Capital, among others, have shown interest in Envestnet, the unidentified sources told the news agency.
Envestnet looked into a sale in 2022 after potential acquirers expressed interest, the sources told Reuters.
"The company doesn't comment on rumors or speculation in the market," a spokesperson for Envestnet told ThinkAdvisor by email Wednesday.
