(Bloomberg) — HashiCorp Inc., a provider of software that helps companies operate in the cloud, has considered options including a sale, people familiar with 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 spoke on condition of anonymity because the details are private. HashiCorp has already held exploratory talks with other industry players, they said.
Shares of HashiCorp, which had fallen about 11% in New York over the past 12 months through Friday’s close, were up 16% in after-market trading. The company has a market value of approximately $5.3 billion.
Considerations are ongoing and there is no certainty they will result in any transaction, the people said. A HashiCorp representative did not respond to requests for comment.
HashiCorp’s software helps companies across a range of industries deploy their digital infrastructure in the cloud, which can reduce costs and speed time to market.
The value of software deals has risen 30% this year to roughly $74 billion, as merger and acquisition activity increases globally, data compiled by Bloomberg show. The sector has already delivered one of the largest announced transactions of 2024: the Synopsys Inc. contract. about the purchase of software developer Ansys Inc. for about 34 billion dollars.
— With help from Brody Ford.
(Trading update in third paragraph)
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