PagerDuty exploring potential sale after receiving buyer interest, sources say
The company is working with Qatalyst Partners on the sale effort, after attracting interest from both financial sponsors and strategic acquirers. The investment bankers are now soliciting possible further buyer interest in PagerDuty, with this process at an early stage, the sources added.
Shares in PagerDuty jumped more than 10% on the news, giving the company a market value of around $1.5 billion.
The sources cautioned that a sale of the company was not guaranteed and spoke on condition of anonymity to discuss private deliberations.
PagerDuty and Qatalyst Partners did not immediately respond to requests for comment.
San Francisco, California-based PagerDuty makes software that helps businesses monitor their IT systems and respond to cyber incidents and outages. Some of its customers include Cisco Systems (CSCO.O), opens new tab, Fox Corp (FOXA.O), opens new tab, Shopify (SHOP.TO), opens new tab, Zoom (ZM.O), opens new tab, and the New York Stock Exchange, according to the company's website.
This is not the first time the company has explored a sale, per the sources, with a similar effort in late 2023 failing to yield an agreeable offer from a buyer.
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