(Bloomberg) — Hashicorp, which provides software that helps businesses operate in the cloud, is considering options including a sale, people familiar with the matter said.
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The San Francisco-based company has been working with financial advisers in recent months to gauge interest from potential buyers, said the people, who requested anonymity because the details are private. HashiCorp is already in exploratory discussions with other industry players.
Hashicorp’s stock price fell about 11% in New York over the past 12 months through Friday’s close, but rose 16% in post-market trading. The company’s market value is approximately $5.3 billion.
Talks are ongoing, but it is unclear whether any deals will result, the people said. Representatives for HashiCorp did not respond to requests for comment.
HashiCorp’s software helps companies in a variety of industries set up their digital infrastructure in the cloud. This can reduce costs and speed up time to market.
According to data compiled by Bloomberg, the value of software deals rose 30% this year to about $74 billion, as mergers and acquisitions pick up momentum around the world. The sector has already seen one of the biggest deals announced in 2024, Synopsys’ agreement to acquire software developer Ansys for about $34 billion.
–With assistance from Brody Ford.
(Updates transactions in 3rd paragraph)
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