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Investing.com -- Pagerduty Inc (NYSE:PD) stock surged 10% Friday after Reuters reported that the software company is exploring strategic options, including a potential sale, following acquisition interest from undisclosed parties.
The San Francisco-based company, which provides digital operations management solutions, has reportedly engaged investment bank Qatalyst Partners to help evaluate its options, according to Reuters, citing people familiar with the matter who spoke on condition of anonymity. The exploration process is said to be in its early stages, with no guarantee that a transaction will materialize.
Pagerduty, founded in 2009, offers cloud-based software that helps companies manage digital operations and respond to IT incidents. The company went public in 2019 and has faced the typical challenges of publicly traded software companies in recent years, including market volatility and shifting investor sentiment toward profitability.
The news comes amid ongoing consolidation in the enterprise software sector, where larger technology companies have been acquiring specialized software providers to expand their product portfolios and customer bases.
Neither Pagerduty nor Qatalyst Partners have officially commented on the reports. Trading volume for Pagerduty shares increased significantly following the news, reflecting heightened investor interest in the potential corporate development.
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