N-able, Inc. (NABL) stock surged more than 9% Wednesday after Reuters reported that the company is exploring a sale after attracting acquisition interest.
Citing sources, Reuters said N-Able, a U.S. provider of information technology software with a market value of about $2.5 billion, is conducting a sale process in which software sector peers and private equity firms are participating.
The company already counts private equity firms Silver Lake and Thoma Bravo as major investors.
Reuters said its source told them that one of the potential suitors is cybersecurity business Barracuda Networks, although it cautioned that no deal is certain.
N-Able shares are currently trading at $13.86, representing a 9.9% increase from Tuesday's close. In 2024, the stock has risen over 5%.