By Katherine Hamilton
Alkami Technology agreed to a $400 million acquisition of Fin Technologies, a financial technology company that does business as Mantl.
Alkami, which provides digital banking services, said Thursday it plans to use $380 million in cash to fund the majority of the purchase. The rest of the funding is set to come from restricted stock units issued to continuing Mantl employees closing in replacement for unvested compensatory stock options.
Mantl's services help customers of financial institutions open accounts and has 112 clients. It offers a single platform that supports a wide variety of deposit accounts, including in-branch, call center and digital. It also automates the account opening process.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 27, 2025 17:18 ET (22:18 GMT)
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