Just_Super/E+ via Getty Images
HashiCorp’s stock (NASDAQ:HCP) surged 12% in after-hours trading following recent reports of the cloud software company exploring strategic alternatives, potentially including a sale.
The company has been collaborating with financial advisors in recent months to assess interest from potential buyers, as per a revealing Bloomberg article published late on Friday, citing sources familiar with the matter. HashiCorp has also engaged in preliminary talks with various industry counterparts.
Discussions are ongoing, with the outcome uncertain as to whether a deal will materialize. The San Francisco-headquartered HashiCorp currently holds a market capitalization of $5.3 billion.