Shares of GitLab Inc. (GTLB), a provider of cloud-based software development tools, were rising more than 14 percent in pre-market on Wednesday after Reuters reported that the Google-backed company is exploring a sale.
GitLab, with market value of about $8 billion is working with investment bankers on a sale process, the reports said citing people familiar with the matter.
GitLab stock had closed at $50.66, up 4.54 percent on Tuesday. It has traded in the range of $40.19 - $78.53 in the last 1 year.
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