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Data analytics software specialist Sumo Logic Inc (NASDAQ:SUMO) climbed over 20% Monday following rumors the company attracted takeover interest from a handful of private equity firms. The source of the speculation was a report from The Information, citing people familiar with the matter.
The Information mentioned several potential PE bidders, including well know private equity firms Thoma Bravo, Vista Equity Partners and Francisco Partners. It wasn’t clear if the approaches have resulted in talks, and a deal isn’t certain, the report said.
Sumo Logic is among a growing list of enterprise software companies that have caught the eye of buyout firms. Interest is being driven in part by falling stock prices. However, tight credit markets have weighed on leveraged buyout deals in recent months.
