Monotype Imaging (TYPE - Get Report) shares were rising sharply Thursday after people with knowledge of the matter said the company is exploring strategic options after receiving takeover interest.

The developer of typefaces has received takeover interest from private-equity firms, Bloomberg reported, citing a source close to the matter. While there is no guarantee these discussions will result in a sale, the Woburn, Mass.-based company and its financial adviser are reviewing strategic options.

In January 2018, Monotype disclosed it spoke to 28 potentially interested parties but received "no definitive offers."

Activist investor Starboard Value last year sold down its stake and ended its campaign for board seats at Monotype.

Analysts surveyed by FactSet have two buys and two hold ratings on the stock. The stock has a 2.6% dividend yield.

Shares rose nearly 9% to $17.94, the most the stock has gained in more than a year.