HashiCorp’s shares saw a surge of nearly 20% on Tuesday after multiple reports emerged suggesting that IBM was in talks to acquire the cloud software provider. According to anonymous sources cited by The Wall Street Journal, said that a potential deal could be finalized as quickly as within the next few days, although both companies declined to comment on the rumors at that time. Well, just one day later, on Wednesday, IBM announced that it will buy HashiCorp in a deal valued at $6.4 billion, or $35 per share, which represents a 42.6% premium to Monday’s closing price. HashiCorp shares rose again on the news, while IBM shares dropped after separately missing revenue consensus for the quarter. See what ETR data says about the deal.
