Deals
Cisco Offered $7 Billion-Plus for DataDog As Company Prepares to IPO
- Software company rejected offer to instead pursue IPO
- Datadog expected to raise up to $624 million Wednesday
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Cisco Systems Inc. approached software company Datadog Inc. in recent weeks with a takeover offer significantly higher than the $7 billion valuation it aimed for in its initial public offering, according to people familiar with the matter.
Datadog rebuffed the advance to pursue a stock listing because it felt it could be worth more as a public company over time, according the people, who requested anonymity because the talks were private. Talks between Cisco and Datadog are no longer active and Datadog is committed to going public, they said.