(RTTNews) - International Business Machines (IBM) is in advanced negotiations to acquire data-infrastructure company Confluent (CFLT) in a deal valued at around $11 billion, the Wall Street Journal reported citing people familiar with the matter.
The report noted that an agreement could be announced as early as Monday, though it cautioned that discussions may still fall apart before a final decision is reached.
If completed, the acquisition would underscore IBM's strategic focus on strengthening its capabilities in data management and infrastructure. The move is expected to significantly enhance IBM's competitive position in the market.
CFLT closed at $23.14 on December 5, down $0.21 or 0.90%. But in overnight trading, the stock rose sharply to $28.28, gaining $5.14 or 22.21%.
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