IBM nearing a buyout deal for HashiCorp, WSJ reports

By Thomson Reuters Apr 23, 2024 | 1:21 PM

(Reuters) – International Business Machines is nearing a deal to buy cloud software provider HashiCorp, the Wall Street Journal reported on Tuesday.

Shares of HashiCorp rose more than 7% following the news, while Big Blue’s shares were marginally lower.

A deal for HashiCorp could be finalised in the coming days but it is still possible that the talks may not result in a transaction, the report said, citing people familiar with the matter.

A spokesperson for IBM declined to comment while HashiCorp did not immediately respond to a Reuters request for comment.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath)