Shares of HubSpot (NYSE: HUBS) climbed as much as 10.7% early Thursday, then settled to close up 7.4%. The stock soared after reports that Google parent Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) is weighing the possibility of making an offer to acquire the customer relationship management (CRM) software platform provider.
According to sources speaking with Reuters this afternoon, Alphabet has engaged advisors at investment bank Morgan Stanley to discuss the possibility of making an offer for HubSpot. The exploration is still in its early stages.
"As standard practice, HubSpot does not comment on rumors or speculation," a company spokesperson said. "We continue to focus on building a great business and serving our customers."
Source Fool.com