Software vendor Envestnet, valued at $3.5B, explores potential sale with Morgan Stanley and interest from Bain Capital.

Software vendor Envestnet, worth $3.5B, is exploring potential sale options following takeover interest. It's working with Morgan Stanley to engage with potential acquirers, including private equity firm Bain Capital. Envestnet provides software solutions to financial institutions, banks, and wealth management firms, serving 16 top US banks, 16 of the top 20 US banks, and several top wealth management and brokerage firms.