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Enfusion , a U.S. software provider for asset managers , is in talks with investment bankers to evaluate options that could include a potential sale , according to people familiar with the matter.
The Chicago-based company, which has a market value of $1.1 billion, decided to interview investment banks in recent weeks after receiving takeover interest from potential suitors including private equity firms , one of the sources said, requesting anonymity as the matter is confidential. Enfusion has not launched a sale process yet and it is possible that the company opts to stay independent, the sources added.
Enfusion did not immediately respond to requests for comment. Shares of the company jumped as much as 19% on the news before trading was briefly halted on Friday. This is not the first time Enfusion has held talks to explore a deal.
Reuters reported last year that Enfusion fielded acquisition interest from several potential acquirers, including Francisco Partners, Vista Equity Partners and Irenic Capital Management. Artificial Intelligence(AI) Java Programming with ChatGPT: Learn using Generative AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Basics of Generative AI : Unveiling Tomorrow's Innovations By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Generative AI for Dynamic Java Web Applications with ChatGPT By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Artificial Intelligence(AI) Master in Python Language Quickly Using the ChatGPT Open AI By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Data Science SQL for Data Science along with Data Analytics and Data Visualization By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Web Development A Comprehensive ASP.NET Core MVC 6 Project Guide for 2024 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Office Productivity Mastering Microsoft Office: Word, Excel, PowerPoint, and 365 By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Marketing Digital marketing - Wordpress Website Development By - Shraddha Somani, Digital Marketing Trainer, Consultant, Strategiest and Subject Matter expert View Program Web Development Mastering Full Stack Development: From Frontend to Backend Excellence By - Metla Sudha Sekhar, Developer and Lead Instructor View Program Finance Financial Literacy i.
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P. Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program Enfusion, whose customer base comprises mostly hedge funds, provides cloud-based portfolio management and risk systems to investment funds. The company has been attempting to win more business from larger funds and corporations with complex operations, as it has struggled to get a bigger share of revenues from existing customers.
Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Enfusion's shares, which have been trading in New York since their initial public offering in 2021 and have lost more than 50% of their value since then, were down about 12% from the start of the year until yesterday's close, underperforming the S&P 500 Application Software index that has remained roughly flat, on concerns about its customers cutting spending. The company reported year-on-year revenue growth of 16% to $49.5 million in its latest quarter, falling short of market expectations.
Investment firms FTV Management Company and ICONIQ Capital collectively own a roughly 50% stake in Enfusion. Earlier this year, Spruce Point Management took a short position in Enfusion, as the investment firm did not believe the company was a high-quality software provider and said its revenue was at "high risk of misstatement.".
