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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