The potential Sacramento ownership group is headlined by TIBCO software chairman Vivek Ranadive, also a minority owner of the Golden State Warriors, and 24 Hour Fitness founder Mark Mastrov.

WSJ: Sacramento, Seattle? Kings' fate remains undecided

Management maintains majority control of the software business, while Cressey and SV Life own a minority stake, sources note.

FORBES: 3Q middle-market review: The Wallflower