Story updated with additional information on rumored ArcSight meeting with employees.
CUPERTINO, Calif. (
, a week after a news report
An industry source told
that the company is holding an "all-hands-on-deck" meeting with employees today, prompting
that this could be related to potential M&A. Subequently, the source added that the meeting may now be pushed out until Friday. ArcSight,
which reports its first-quarter results after market close
, has yet to respond to
request for comment.
Last week the
Wall Street Journal
reported that ArcSight has put itself in the shop window. Citing people familiar with the matter, the Journal said that potential buyers, including
could pay up to $1.5 billion for the company.
are also possible purchasers, the
ArcSight shares surged on the speculation, hitting a new 52-week high of $39.74 on August 27. The
report, which theorized a deal could happen in the next couple of weeks, said ArcSight expects to fetch $40 a share.
ArcSight makes security management and compliance software, and was recently
'Breakout Stocks' portfolio has described ArcSight as "one of the most compelling secular growth stories in the market."
only went public in 2008
, but has already made a big name for itself, putting out consistently impressive quarterly numbers.
The company's CEO Tom Reilly recently
that ArcSight is also on track to reach its target of 18% to 20% operating margin in fiscal 2012.
The software maker
and analysts expect the company to post first-quarter revenue of $45.53 million and earnings of 13 cents a share. ArcSight reported sales of $34.6 million and earnings of 9 cents a share in the same period last year.
ArcSight's stock rose 64 cents, or 1.69%, to $38.47 in Thursday afternoon trading, outpacing the broader advance in tech stocks that saw the Nasdaq rise 0.45%.
Written by James Rogers in New York.
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