ArcSight Looking For Buyer

ArcSight has reportedly put itself up for sale.

Security software developer ArcSight has put itself up for auction, while big names in the industry including Oracle, Hewlett-Packard and IBM may be looking to big to acquire the company, the Wall Street Journal has reported.

According to people close to the company, potential bidders, including HP, Oracle, IBM, EMC and CA, may bid up to $1.5 billion to acquire the Cupertino, California-based security software maker, valuing the company at more than $40 per share.

ArcSight, which started in 2008, provides software that specialises in detecting unusual activities on the server system of a company.

It has said that it is expecting to strike a deal within the next two weeks.

So far, none of the companies concerned have spoken about the issue, but, as more companies move towards cloud computing, IT giants are looking to expand their cloud security portfolios.

Shares in ArcSight have surged by 30 per cent since the news of the auction came to light.