03:04 PM EDT, 06/20/2025 (MT Newswires) -- Couchbase ( BASE ) shares surged Friday after the software provider said it has agreed to be acquired by private-equity firm Haveli Investments in a roughly $1.5 billion all-cash deal.

Couchbase ( BASE ) stockholders will receive $24.50 per share, representing a nearly 67% premium to its closing stock price March 27, the last full trading day before the announcement of Haveli's investment into the company.

Couchbase's ( BASE ) shares were up nearly 30% in Friday late-afternoon trading. The stock has gained 57% in value so far this year.

"Today's announcement marks a significant milestone for our stockholders and an exciting new chapter for Couchbase ( BASE )," Chief Executive Matt Cain said in a statement. "Haveli's investment is a strong affirmation of our market position and our future potential."

"The data layer in enterprise IT stacks is continuing to increase in importance as a critical enabler of next-gen (artificial intelligence) applications," said Sumit Pande, senior managing director at Haveli. "Couchbase's ( BASE ) innovative data platform is well positioned to meet the performance and scalability demands of the largest global enterprises."

The deal includes a "go-shop" period expiring at 11:59 pm ET Monday during which Couchbase ( BASE ) and its advisers can solicit, consider and negotiate alternative acquisition proposals from third parties.

"We believe this (deal) was a strategic move for both entities as these organizations are closely aligned in terms of data and infrastructure buildouts," Wedbush Securities said in a Friday note to clients. The brokerage doesn't expect any other bidders or any regulatory issues with respect to the deal. Wedbush lowered its price target on the company's stock to $24.50 from $26 while maintaining its outperform rating.

Couchbase ( BASE ) expects the deal to close in the second half of 2025, subject to stockholder approval and other conditions. Upon the deal's completion, the company's common stock will no longer be listed on any public market.

Earlier this month, Couchbase ( BASE ) reported a narrower fiscal first-quarter non-GAAP net loss from a year earlier, while revenue rose 10%. The company said at the time it expected full-year revenue of $228.3 million to $232.3 million. Analysts polled by FactSet expect $230.9 million.

Price: 24.52, Change: +5.59, Percent Change: +29.53