GitLab (NASDAQ:GTLB), the software development portal part-owned by Google, is exploring a sale and has attracted interest from potential buyers, according to a Reuters report, citing people familiar with the matter.
The company is working with investment bankers on the process though any deal remains weeks away, Reuters said.
The Reuter’s report specifically linked data analytics firm DataDog as a potential acquirer of GitLab - whilst noting that neither GitLab nor Datadog responded to its requests for comment.
Google owns 22% of GitLab, which currently has an $8 billion market value.
In early premarket, GitLab stock was up $7.26 or 14% priced at $57.92.
It followed Tuesday’s 4.58% gain in regular trading hours.