Alkami to acquire mantl to expand account opening capabilities

Combination creates powerhouse digital sales and service platform plano, texas , feb. 27, 2025 /prnewswire/ -- alkami technology, inc. (nasdaq: alkt) ("alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the u.s., today announced that it signed a definitive agreement to acquire fin technologies, inc. ("mantl") for an enterprise value of $400 million, on a debt free, cash free basis and subject to customary purchase price adjustments, expected to be $7 million. alkami plans to fund the acquisition with cash of approximately $380 million and restricted stock units issued to continuing mantl employees with an estimated value of $13 million at transaction closing in replacement for unvested compensatory stock options.
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