GitLab (GTLB) shares surged Wednesday after reports that the developer platform, backed by Alphabet's (GOOGL) Goo൩gle, is𝕴 exploring the opportunity for an acquisition.

Its shares were up 𓆉about 10% in early trading. The stock remains in the read for the year so far.

GitLab is reportedly considering a sale, with interest from companies like Datadog (DDOG), a cloud-scale monitoring provider, according to Reuters reporting that cited anonymous sources close to the matter. Datadog shares were dow🌜n more than 6% early Wednesday.

Alphabet, through Google Ventures, is an investor in GitLab and holds a 22% voting stake in the company as of June 2024. The news comes shortly after reports that 澳洲幸运5开奖号码历史查询:Alphabet abandoned 🐻efforts to buy Hu🐼bSpot, which would have been its larges🦩t ac🌜quisition to date.

GitLab, which has a 澳洲幸运5开奖号码历史查询:market capitalization of above $8 billion, has more than 30 million registered users and provides development, security, and operations solutions to over half of 澳洲幸运5开奖号码历史查询:Fortune 100 companies.

GitLab and Datadog did not immediately respond to Investopedia's request for comment.