GitLab Considers Sale as Acquisition Interest Mounts

GitLab, a U.S. provider of cloud-based software development tools, is exploring a sale amid acquisition interest. With a market value of about $8 billion, the company is collaborating with investment bankers. Notable interest has come from Datadog. Dealmaking in the technology sector is on the rise, with significant mergers and acquisitions occurring globally.

GitLab, a U.S. provider of cloud-based software development tools, is exploring a sale after attracting acquisition interest, according to sources.

Concurrently, Alphabet, holding a 22.2% stake in GitLab, is in advanced talks to acquire cybersecurity startup Wiz for $23 billion. GitLab's market value stands at approximately $8 billion.

Despite the 16% decline in GitLab's shares this year, the company reported a 33% revenue growth in its latest quarter. CEO Sid Sijbrandij is currently undergoing treatment for cancer but continues his duties.

(With inputs from agencies.)