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As private equity firms eye its acquisition, Sumo Logic’s stock price rises

By ET Bureau - January 24, 2023 1 Mins Read

According to a report by The Information, private equity firms Thoma Bravo, Vista Equity Partners, and Francisco Partners are interested in acquiring publicly traded, cloud-based application monitoring software provider Sumo Logic Inc.

According to a person familiar with the situation quoted by The Information, all three companies have contacted Sumo Logic about the prospect of a sale. It was unclear if Ramin Sayar, the chief executive of Sumo Logic, is open to the notion.

The news caused Sumo Logic’s stock to rise more than 30% today, hitting an intraday high of USD 10.25. At one point during the day, trading was halted as a result of the rally.

Read More: Sumo Logic’s stock soars as private equity firms target it for acquisition 

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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