Confluent Inc (NASDAQ:CFLT) is exploring a potential sale after drawing interest from technology companies and private equity firms, Reuters reported on Wednesday, citing people familiar with the matter.
The data infrastructure firm has hired an investment bank to advise on the process, which is at an early stage, the report said.
The move comes as several suitors expressed interest in acquiring the company, whose real-time data streaming technology has become increasingly valuable amid the boom in artificial intelligence.
Confluent’s market value is roughly $7 billion, though its shares have fallen about 26% so far this year, making it more vulnerable to takeover approaches, Reuters reported.
No deal is guaranteed, and Confluent could ultimately remain independent, the report added.
The Mountain View, California-based firm was founded by the creators of Apache Kafka, and its software helps enterprises manage massive, real-time data flows.
Source :
https://www.investing.com/news/stock-market-news/confluent-weighs-potential-sale-amid-aidriven-demand-for-data-streaming--reuters-4276106
