(Reuters) – Cybersecurity company Radware is in talks to sell itself to private equity firm Siris Capital, CNBC reported on Monday, citing people familiar with the matter.
Shares of the American-Israeli company rose 7.3% in afternoon trade.
The deal is not assured and the talks may fall apart, the CNBC report here added. Radware did not immediately respond to a Reuters request for comment, while Siris declined to comment.
Radware, whose market cap stands at about $1.6 billion and competes with companies such as Cloudflare and Akamai Technologies, provides cybersecurity services to enterprises by protecting their systems and data centers from targeted attacks.
Siris Capital, which has raised over $5.9 billion of cumulative committed capital, is a tech-focused investment firm.
Cyber security has been one of biggest areas of investment by venture capitalists since the pandemic as companies ramped up their digital footprint, including e-commerce and remote work.
Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra Eluri