Sumo Logic stock up 15%; PE heavyweight nears deal for software company, WSJ says

Shares of Sumo Logic Inc.
SUMO,
+0.91%
rallied more than 15% in the extended session Wednesday after The Wall Street Journal reported that private-equity firm Francisco Partners is nearing a $1.7 billion deal for the software provider. The deal could be unveiled as soon as Thursday, the report said, citing people familiar with the talks. Sumo Logic has a market cap of around $1.46 billion. Shares of Sumo Logic ended the regular trading day up 0.9%