Software Company HashiCorp Is Weighing a Potential Sale
(Bloomberg) -- HashiCorp Inc., a provider of software that helps companies operate in the cloud, has been considering options including a sale, people with knowledge of the matter said.
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The San Francisco-based company has been working with a financial adviser in recent months to gauge interest from potential buyers, according to the people, who asked to not be identified because the details are private. HashiCorp has already held exploratory talks with other industry players, they said.
Shares in HashiCorp, which had fallen about 11% in New York over the last 12 months through Friday’s close, rose 16% in after-market trading. The company has a market value of roughly $5.3 billion.
Deliberations are ongoing and there’s no certainty they’ll result in any transaction, the people said. A representative for HashiCorp didn’t respond to requests for comment.
HashiCorp’s software helps companies in a range of industries set up their digital infrastructure in the cloud, which can lower costs and speed up the time it takes them to bring products to market.
The value of software deals has risen 30% this year to roughly $74 billion, as mergers and acquisitions activity picks up globally, Bloomberg-compiled data show. The sector has already delivered one of the biggest announced transactions of 2024: Synopsys Inc.’s agreement to buy software developer Ansys Inc. for about $34 billion.
--With assistance from Brody Ford.
(Updates trading in third paragraph)
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