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. 

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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

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