Technology company JFrog (FROG, Financial), known for producing tools for software developers, has garnered preliminary acquisition interest from potential buyers, including private equity firms Permira and Hellman & Friedman. Despite this interest, it may not lead to an actual deal. Recently, JFrog's shares rose by 4.31% in pre-market trading.
A spokesperson for JFrog stated that the company is not engaged in discussions with any private equity or financial advisors regarding mergers and acquisitions. Commenting on industry rumors and speculation is not common practice for JFrog. Both Permira and Hellman & Friedman declined to comment on the situation.
This year, JFrog's stock has decreased by 14%, reducing its market value to $3.28 billion. Founded in 2008 by Shlomi Ben Haim, who remains its CEO, JFrog specializes in helping large enterprises efficiently manage the development and deployment of software to end-users.
Previously, JFrog's decision to lower its 2024 revenue forecast during the second-quarter earnings announcement led to a nearly 28% drop in its stock price. The company now expects revenue between $422 million to $424 million, citing a challenging macroeconomic environment that might affect deal closures.
