TEL AVIV (

TheStreet

) -- Another day, another tech M&A rumor.

The Israeli technology Web site

Globes

reports that networking specialist

Radware

(RDWR) - Get Report

is in on the block and said talks are already underway with

IBM

(IBM) - Get Report

and

Hewlett-Packard

(HPQ) - Get Report

.

Citing unnamed sources,

Globes

said that the total value of the deal is expected to be $945 million, or $45 a share, representing a 60% premium.

Shares of

Radware

shot up on Tuesday as investors responded to the M&A chatter. Radware's stock closed up $10.72, or 38.46%, to reach $38.59.

IBM has not yet responded to

TheStreet's

request for comment on this story. A Radware spokeswoman said that the networking firm does not comment on "rumors and speculation" and an HP spokeswoman also declined to comment.

Radware makes application delivery and network security products, and is one of a number of firms touting technology for

tackling potentially debilitating cyber attacks

. Competitors include Cisco,

Citrix

(CTXS) - Get Report

and

F5 Networks

(FFIV) - Get Report

.

The Israeli firm, with its U.S. headquarters in Mahwah, N.J., would certainly make a viable acquisition target, particularly for HP. The tech giant, which is locked in a battle with networking giant

Cisco

(CSCO) - Get Report

, is on an M&A tear and recently snapped up

3Par

(PARS)

and

ArcSight

(ARST)

for a combined total of almost $4 billion.

IBM would make a less obvious suitor for Radware, although, like HP, the tech bellwether is an existing Radware partner.

Like many tech companies, Radware had to

weather a tough economic climate during the recession

, but returned to profitability in

2009

. Late last year, Radware also picked up

Nortel's

Alteon switch business and

launched the first new version of the technology in half a decade

.

Radware's stock has risen more than 155% this year, boosted by strong quarterly results, and, more recently, acquisition chatter.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to

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.

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