Why Enfusion (ENFN) Stock Is Exploding Higher

Enfusion Inc ENFN shares are trading higher by 20% to $11.06 Monday afternoon following a report suggesting the company is attracting takeover interest.

What Else?

Enfusion is drawing takeover interest from private equity firms and strategic buyers, including Francisco Partners, Vista Equity Partners and Irenic Capital Management, according to anonymous sources cited by Reuters.

Enfusion has faced executive turnover, with its CEO and CFO resigning last year. Irenic Capital Management is in talks with Enfusion's new CEO about a potential transaction at a premium.

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Per Reuters, no comments were provided by Francisco Partners, Vista Equity Partners or Irenic. Additionally, there is no certainty regarding a deal. Irenic may collaborate with a software-focused private equity firm for the acquisition.

According to data from Benzinga Pro, ENFN has a 52-week high of $16.76 and a 52-week low of $7.37.