Web.com Stock Rises on Reports of Buyout Talks

Internet services provider Web.com  (WEB) shares were up more than 6% on early Friday afternoon following a Reuters report that the company was in buyout talks with private equity firms. 

Web.com is reportedly engaged in early-stage talks in response to multiple leveraged buyout approaches. The company has a market cap of $1.1 billion and generated $710.5 million in revenue in 2016 after reporting revenue of $543.5 million in 2015. 

GoDaddy (GDDY) , one of Web.com's biggest rivals, has also reportedly been seeking a buyout partner since its initial public offering in 2015. 

Comcast (CMCSA) and Alphabet (GOOGL) are just some of the tech names in Jim Cramer's Action Alerts PLUS portfolio. Get his insights on the biggest names in tech here.

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