Datadog Inc (NASDAQ:DDOG) stock traded lower in early deals following a report linking it to a potential acquisition of coding portal GitLab (NASDAQ:GTLB).
GitLab 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.
In New York, Datadog stock was around 4.6% lower at $124.80, whilst GitLab shares were nearly 13% higher at $57.10.