06:37 AM EDT, 07/17/2024 (MT Newswires) -- GitLab ( GTLB ) is considering a sale after attracting acquisition interest, Reuters reported Wednesday, citing people familiar with the matter.

The Google ( GOOG )-backed (GOOG) provider of cloud-based software development tools has attracted the interest of peers, including cloud monitoring firm Datadog ( DDOG ) , and is working with investment bankers on a sale process, the report said.

No agreement is certain and potential deals are still weeks away, Reuters said.

Gitlab ( GTLB ), Datadog ( DDOG ), and Alphabet did not immediately respond to MT Newswires' request for comment.

Shares of GitLab ( GTLB ) rose 15% in recent Wednesday premarket activity. Datadog ( DDOG ) shares slid by 1.6%, while Google ( GOOG ) was down 0.6%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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