Sumo Logic stock surges more than 30% on reported buyout interest

Sumo Logic Inc.
SUMO,
+28.68%
stock soared Monday on a report that the data-analytics software company has been approached by private equity firms expressing interest in a possible buyout. Sumo Logic shares surged more than 30% to an intraday high of $10.25, in late afternoon trading. The rally, which triggered an initial halt in trading, followed a report from The Information that Thoma Bravo, Vista Equity Partners, and Francisco Partners, are looking at the company as the latest acquisition, citing an unnamed source who knows of the interest.