Nutanix explores sale after receiving takeover interest - WSJ

Oct 14 (Reuters) - Cloud data-storage firm Nutanix Inc (NTNX.O) is exploring a sale after receiving takeover interest, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Shares of the San Jose, California-based company jumped nearly 23% in morning trade.

Nutanix is expected to target private equity and industry players, the report said, adding that it is far from certain there will be a deal.

The company declined to comment on "market rumors or speculation" when contacted by Reuters.

Demand for cloud-computing firms surged during the COVID-19 pandemic as businesses raced to bolster digital offerings, but a sharp equities selloff and the economic reopening have hit their shares.

Shares of the company, which had a market value of $4.80 billion as of last close, have fallen nearly 34% this year. The stock has recovered somewhat since late August, when it reported positive earnings and gave upbeat forecasts.

Reporting by Tiyashi Datta in Bengaluru; Editing by Maju Samuel

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