NEW YORK IBM Corp and EMC Corp are among parties in talks to buy privately held database web hosting company SoftLayer Technologies Inc, in a deal that could fetch over $2 billion, three sources close to the matter said.
Dallas, Texas-based SoftLayer has hired Morgan Stanley and Credit Suisse to run the sale process, the sources said, asking not to be named because the talks are private.
SoftLayer's sale process was initially spurred by one of its customers, AT&T Inc, which approached the company in recent months seeking exclusive talks, one of the sources said. AT&T is no longer involved in the process, two of the sources said.
Spokespeople for SoftLayer, AT&T, EMC, IBM, Morgan Stanley and Credit Suisse declined to comment.