Activist Irenic Capital Is Said to Build Stake in Couchbase

Irenic Capital Management has built a stake in database software provider Couchbase Inc., according to people familiar with the matter.

The activist investor has been engaging privately with the company, said the people, asking not to be identified because the matter is private. The size of Irenic’s stake or its intentions couldn’t be learned.

A representative for Irenic declined to comment. A spokesperson for Couchbase couldn’t immediately be reached for comment.

Couchbase’s shares were down 0.4% to $17.04 at 3:26 p.m. in New York on Wednesday, giving the company a market value of $920 million. The stock is ...