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Benzinga

Business

Anusuya Lahiri

Confluent Stock Skyrockets As IBM Seals $11 Billion Buyout

IBM Confluent CFLT International Business Machines Corp Wamsi Mohan Red Hat

International Business Machines Corp.

International Business Machines Corp. (NYSE:IBM) agreed to acquire Confluent, Inc. (NASDAQ:CFLT) for $31 per share, giving the data streaming pioneer an enterprise value of $11 billion.

Confluent stock surged after the deal.

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