GitLab is reportedly exploring a possible sale, with sources saying the developer platform has attracted acquisition interest.
According to Reuters, GitLab is working with investment bankers to explore a possible sale, with cloud monitoring firm Datadog already expressing interest.
GitLab currently is valued at $8 billion, meaning any deal would be a substantial one at a time when regulators are growing increasingly critical of consolidation in the tech industry. As Reuters points out, GitLab has been facing growing challenges competing with GitHub, which was purchased by Microsoft and benefits from its parent company’s deep pockets.
Sid Sijbrandij, GitLab co-founder and CEO, is currently undergoing is second round of treatment for osteosarcoma. Although he has said he is working on a full recovery and will continue as CEO, it’s not outside the realm of possibility that his health could force him to reduce his role in the company.
It is also unclear what role Alphabet could play in a possible sale/acquisition, given the company controls 22.2% of GitLab’s voting shares.
Ultimately, it is too early in the process to know for sure if a deal will be reached.
from WebProNews https://ift.tt/2Tn4CD8
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