UPDATE 1-IBM nearing a buyout deal for HashiCorp, WSJ reports

(Adds shares, details from report)

April 23 (Reuters) – International Business Machines is nearing a deal to buy cloud software provider HashiCorp, the Wall Street Journal reported on Tuesday.

Shares of HashiCorp rose more than 7% following the news, while Big Blue’s shares were marginally lower.

A deal for HashiCorp could be finalised in the coming days but it is still possible that the talks may not result in a transaction, the report said, citing people familiar with the matter.

A spokesperson for IBM declined to comment while HashiCorp did not immediately respond to a Reuters request for comment. (Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shailesh Kuber and Devika Syamnath)

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