By Arsheeya Bajwa

(Reuters) - International Business Machines ( IBM ) is nearing a deal to buy cloud software provider HashiCorp ( HCP ), according to a person familiar with the matter.

Hashicorp's ( HCP ) stock surged 24%, giving it a market value of $6.1 billion.

A deal for HashiCorp ( HCP ) could be finalised in the coming days, but it is still possible that the talks may not result in a transaction, according to the Wall Street Journal which first reported the possible acquisition.

HashiCorp ( HCP ) did not immediately respond to a Reuters request for comment.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath)