HubSpot shares jumped as much as 7% on Thursday amid speculation about software sector M&A. Earlier this week Salesforce agreed to acquire Braze for $5.66 billion at a 58% premium, and the prior week CCC Intelligent Solutions and Varonis Systems agreed to deals at 44% and 52% premiums. Jefferies analyst Samad Samana sees the Braze deal as a possible spark for a takeover of Klaviyo and considers HubSpot an attractive private equity candidate, though he views a direct acquisition as unlikely. The article estimates a HubSpot deal, given its market cap above $13 billion and an average 51% premium, could cost around $20 billion, but stresses this is speculation.
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