International Business Machines Corp. is in advanced negotiations to acquire data infrastructure firm Confluent for around $11 billion, the Wall Street Journal reported, citing people familiar with the matter.
A deal, which would mark one of IBM’s biggest acquisitions in recent years, could be announced as early as Monday, the Journal saidBloomberg Terminal. Confluent, valued at about $8 billion, specializes in managing the data essential to AI development. Its shares surged 20% in Blue Ocean trading as of 11:50 a.m. in Singapore, with volumes exceeding the monthly average.
