Deals
RingCentral Is Said to Hire Adviser After Takeover Interest
- Cloud-software company may attract interest from buyout firms
- Second-quarter revenue rose 30% compared to a year ago
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Cloud-based software maker RingCentral Inc. is working with an adviser after receiving takeover interest, according to people familiar with the matter.
RingCentral could attract interest from technology-focused private equity firms and other cloud-based software providers, two of the people said. RingCentral may choose not to proceed with a deal, the people said, asking not to be identified as the details aren’t public. Shares rose 10 percent to $39.55 at 10:44 a.m. in New York, valuing the company at $3 billion.