(Bloomberg) — International Business Machines Corp. is close to a deal to acquire software company HashiCorp Inc. for about $35 per share, according to people with knowledge of the matter.
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IBM and HashiCorp could announce the deal as early as Wednesday, the people said, asking not to be identified discussing confidential information. IBM is expected to report its first quarter 2024 results on Wednesday.
Shares of HashiCorp, which jumped 28% Tuesday following reports that IBM was in advanced talks to acquire the company, were trading at $29.27 per share as of 12:49 p.m. Wednesday in New York.
Representatives for IBM and HashiCorp declined to comment.
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