10:43 AM EDT, 05/23/2024 (MT Newswires) -- (Updates with details throughout.)

Envestnet ( ENV ) , a wealth-management software provider, is drawing takeover interest from private-equity firms Advent International and GTCR, among other potential suitors, Bloomberg News reported Thursday, citing people familiar with the matter.

There's no certainty either GTCR or Advent will decide to pursue a deal as deliberations are still in progress, the unnamed sources told the news outlet.

Representatives for Advent, GTCR and Envestnet ( ENV ) declined to comment, according to Bloomberg.

An Envestnet ( ENV ) spokesperson told MT Newswires in an e-mailed statement that the company doesn't comment "on rumors or speculation in the market."

Advent declined to comment to MT Newswires, while GTCR did not immediately respond.

Envestnet ( ENV ) shares were up by more than 5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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