Data analytics software company Sumo Logic has seen its share price soar by up to 30% on the back of reports that a trio of private equity firms – Thoma Bravo, Vista Equity Partners, and Francisco Partners – are all interested in acquiring the business.
Data analytics software company Sumo Logic has seen its share price soar by up to 30% on the back of reports that a trio of private equity firms – Thoma Bravo, Vista Equity Partners, and Francisco Partners – are all interested in acquiring the business.
According to a report by The Information citing unnamed sources, all three have reportedly made contact with Sumo Logic and CEO Ramin Sayar over a potential acquisition.
Sumo Logic, which has a market cap of $920 million and saw its shares lose 40% during 2022, agreed to appoint John Harkey, the founder of JDH Investment Management, to its board last year after striking a mutual cooperation agreement with special situations hedge fund Scalar Gauge Fund, which has a holding in the business.