Infoblox Inc (NYSE:BLOX) shares are soaring as the company revealed that it plans on selling itself.
The network security company has garnered interest from a number of private equity firms that have not revealed their identity but are likely in negotiations with Infoblox. One such firm is believed to be Thoma Bravo LLC, which came knocking earlier in the year regarding a potential buyout.
However, no deal is in place for the acquisition of Infoblox so far. The company focuses on offering enterprise and solutions for critical network infrastructure services.
The firm also helps to automate and protect information technology servers from cyberattacks. Infoblox has a market capitalization of $1.2 billion.
Out of nine analysts that are covering BLOX stock, five rate it a “Buy,” two rate it a “Sell” and two more rate it a “Hold.” BLOX shares have risen more than 27% since January 27, 2016.
The company released its most recent quarterly earnings reports nearly three months ago, where revenue tallied up to $82 million in the third quarter. This figure marked a 5% increase year-over-year.
Infoblox is slated to release its fiscal fourth-quarter report later today. Banbury Partners Llc has a 6.62% of the company’s portfolio, amounting to 962,995 shares. Dorsal Capital Management Llc has 3.28 million shares of BLOX stock, making up 4.53% of their US portfolio.
Starboard Value Lp has 3.85 million shares. The firm could be one of the companies in talks with Infoblox regarding a potential acquisition.
BLOX stock is up 6.5% Wednesday.
