After a crazy few weeks, Infoblox stock has risen as much as 21 percent today after rumors that it’s received an offer from Thoma Bravo to take the company private. So Bloomberg reports, citing anonymous sources.
The rumor has caused Infoblox stock to rise as high as $18.98 today, valuing the company at about $1.1 billion.
Earlier this week Infoblox stock tanked as much as 12 percent after it warned that revenues for its third quarter, ended April 30, would come in well below expectations. Fiscal 2016 net revenue is now expected to be $354 million to $358 million, compared to the previous estimate of $370 million to $380 million. Infoblox CEO Jesper Andersen blamed the weakened revenues on softer enterprise IT spending, especially in North America.
A month ago, the Santa Clara, Calif.-based company saw its stock rise after activist investor Starboard Value disclosed about a 7 percent stake in the company.
The company went public in 2012. Its technology protects domain name system (DNS) infrastructure and automates cloud deployments.
In February the company announced it was buying security vendor IID for $45 million in cash.