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The company, which has struggled to become profitable, is reportedly being advised by investment bank Qatalyst Partners in its discussions with potential buyers.
PRO shares have surged on the news, up 10% at the time of writing, trading around the $35.20 mark, after closing Tuesday’s session at just below $32 per share following a slide in the last couple of months.
According to the publication’s sources, many of the potential buyers are private equity firms, but their offers have so far been rejected, with the interested parties said to be unable to put together an attractive deal due to the company’s losses.
As a result, Reuters said it’s possible that negotiations conclude without an agreement.
The Houston-based firm has reported yearly losses since it started providing its software via computing in 2015, leading it to spend more on product development.
