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BlackRock  (BLK - Get Report) is in talks to buy French software firm eFront, according to the The Wall Street Journal, which cited sources close to the matter.

The global investment management giant could pay between $1 billion and $1.5 billion for eFront, Journal sources said. The talks are in advanced stages and a deal could be made in days.

EFront is a software company specialized in serving the financial industry. The company provides reporting of alternative investments and risk management and has clients in the private equity, real estate investment, banking, and insurance markets.

European private-equity firm Bridgepoint paid about $330 million for eFront in 2015. Headquartered in France and founded in 1999, eFront serves more than 700 customers and 100,000 users in 40 countries, including some of the largest companies in alternative sectors.

For BlackRock, the deal would allow it to diversify its offerings while its main business of stocks, bonds and funds is the target of a price war thanks to increasing competition. It would also allow it to use its own tools to invest in its $112 billion portfolio of alternative investments of private equity, infrastructure and others.

BlackRock CEO Larry Fink said he wants a higher percentage of revenue coming from technology, the Journal reported.