Avid Tech stock jumps more than 15% on report of exploring potential sale

Shares of video and audio editing software maker Avid Technology Inc.
AVID,
+22.91%
jumped Wednesday following a report the company has hired Goldman Sachs to explore a potential sale. Avid shares rallied as much as 18% following Reuters’ reporting of the matter, citing unnamed sources close to the proceedings. Avid has asked Goldman Sachs to begin collecting binding offers, according to the report.