Data security firm Carbonite is reportedly looking to sell and the markets are loving it

Boston-based Carbonite’s stocks jumped by 20% on Friday after Bloomberg revealed that the data security firm might be looking for a takeover.

The publication had spoken to an anonymous source familiar with the matter. The source alleged that the firm is working with a financial adviser to look into how the company could be sold to an unnamed private equity firm. The process is still, reportedly, in its early stages and no final decision has been made.

Nevertheless, the news caused the stocks to rise from $13 per share to $15.08 per share on Friday, according to CRN. By Monday, the price jumped further to $15.31. The increase comes after Carbonite’s stock price had plummeted over the past year.

In September 2018, one share was worth $41.35. The decline can be linked to Mohamad Ali, the then-CEO, leaving the business. He went on to pursue a career as CEO of Framingham.

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