Cloud software company HashiCorp exploring potential sale, Bloomberg News reports

By Thomson Reuters Mar 15, 2024 | 5:16 PM

(Reuters) – Cloud software vendor HashiCorp is exploring options, including a sale, Bloomberg News reported on Friday citing people familiar with the matter.

Shares of the San Francisco, California-based company rose more than 12% in extended trading.

HashiCorp has been working with a financial adviser in recent months and has held exploratory talks with other industry players, the report said.

Talks are ongoing and there is no certainty it will result in any deal, the report added.

The company has a market capitalization of $5.28 billion, as of last close.

HashiCorp did not immediately respond to a Reuters request for comment.

(Reporting by Harshita Mary Varghese; Editing by Krishna Chandra Eluri)