HashiCorp shares jumped 12% in extended trading on Friday after Bloomberg reported the software developer was considering a sale.
The company has engaged an outside firm to explore interest from potential buyers, Bloomberg said, citing unnamed sources.
As of Friday's close, HashiCorp was trading at $26.50, or 67% below its initial public offering price.
Mitchell Hashimoto, a co-founder and former technology chief of HashiCorp, said in December that he was leaving the company.
WATCH: HashiCorp CEO McJannet talks enterprise software
Persons:
didn't, HashiCorp, David McJannet, Mitchell Hashimoto, Read, McJannet
Organizations:
Bloomberg, Nasdaq