Why Compuware (CPWR) Stock Is Soaring Today

NEW YORK (TheStreet) -- Shares of Compuware (CPWR)  are up 13.90% to $10.65 after it was reported that the software developer is close to a deal to sell itself, sources told the Wall Street Journal.

The company is in advanced talks with a private-equity buyer, sources said, adding that a deal could be announced as soon as today which would draw to a close a more than yearlong sales process, the Journal noted.

The identity of the likely private-equity buyer couldn't be learned. 

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Compuware launched a sales process last year after activist hedge fund Elliott Management Corp. tried to buy the company. In 2012, Elliott made an unsolicited $11-a-share bid that valued Compuware at around $2.4 billion.

Elliott still owns a big stake in the company. It couldn't be learned what would happen with that stake as part of any deal, the Journal said.

CPWR Chart CPWR data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE

More from Markets

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Apple and GE Switch Roles; Musk's Super Control of Tesla Explained -- ICYMI

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Trump May Be More to Blame For Higher Oil Prices Than OPEC

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Dow Falls Over 200 Points as Apple's Slump Offsets Gains in General Electric

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

Week Ahead: Major Earnings on Tap as Wall Street Readies for Geopolitical Moves

3 Hot Reads From TheStreet's Top Premium Columnists

3 Hot Reads From TheStreet's Top Premium Columnists