12:33 PM EDT, 05/29/2024 (MT Newswires) -- (Updates with details throughout)

N-Able ( NABL ) , a US-based information technology software provider, is exploring a sale after receiving acquisition interest, Reuters reported Wednesday, citing people familiar with the matter.

The company, which counts private equity firms Silver Lake and Thoma Bravo as major investors, is running a sale process which has attracted interest from the company's peers and other firms, including KKR-owned (KKR) cybersecurity company Barracuda Networks.

N-Able ( NABL ) is reportedly valued at about $2.5 billion.

Silver Lake, N-Able ( NABL ), and KKR declined comment to Reuters.

N-Able ( NABL ), KKR, Barracuda Networks, Silver Lake, and Thoma Bravo did not immediately respond to requests for comment from MT Newswires.

N-Able ( NABL ) shares were 9.4% higher in recent Wednesday trading.

(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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