Bain Capital and Reverence Capital Partners have agreed a deal to take Envestnet Inc., a provider of wealth-management software, private.blo

The buyout firms will pay $63.15 a share for Berwyn, Pennsylvania-based Envestnet, according to a statement on Thursday that confirmed an earlier Bloomberg News report. The offer values Envestnet at $3.5 billion on an equity basis and at $4.5 billion including debt.

Strategic partners BlackRock Inc., Fidelity Investments, Franklin Templeton and State Street Global Advisors have all agreed to invest in the transaction and will hold minority positions in Envestnet once the deal completes.

Shares in Envestnet closed 0.9% lower in New York on Wednesday at $61.70, giving the company a market value of $3.4 billion. Reuters reported earlier this month that Bain was close to an acquisition of Envestnet.

Envestnet offers software and data to wealth managers, banks and other clients that helps them manage and evaluate investments. It manages more than $6 trillion in assets and oversees nearly 20 million accounts, according to Thursday’s statement. Bloomberg reported in May that the company was also drawing takeover interest from private equity firms including Advent International and GTCR.

Private equity firms have been ramping up their interest in the broad software and financial technology sectors, where businesses tend to have reliable cash flows and can be scaled up through acquisitions.

–By Matthew Monks and Ryan Gould (Bloomberg News)