IBM Said to Near Acquisition of Software Provider HashiCorp (2)

International Business Machines Corp. is in advanced talks to acquire software company HashiCorp Inc., according to people with knowledge of the matter.

IBM and HashiCorp could reach an agreement as soon as Wednesday, said the people, who asked not to be identified discussing confidential information.

HashiCorp shares, which jumped as much as 28% Tuesday, closed up 19% to $29.15 for the biggest one-day gain in more than two years, giving the San Francisco-based company a market value of $5.8 billion. That reversed a 10% decline over the past 12 months through Monday’s close.

Bloomberg News reported in March that ...