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
Rows of fibre optic cables are seen feeding into computer server inside a comms room at an office in London, U.K., on Tuesday, Dec. 23, 2014. Vodafone Group Plc will ask telecommunications regulator Ofcom to guarantee that U.K. wireless carriers, which rely on BT’s fiber network to transmit voice and data traffic across the country, are treated fairly when BT sets prices and connects their broadcasting towers.
Photographer: Simon Dawson/BloombergCloud-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.