IBM may be considering a bid to acquire data analysis firm Splunk, according to a recent report by Bloomberg.
The San Francisco, Calif.-based firm makes software that helps businesses analyze large amounts of Web data in order to make better business decisions in the future. It focuses mostly on machine-related data, such as data generated from Web sites, applications and Web servers, along with mobile devices and items related to the Internet of Things.
According to the Bloomberg story, IBM is one of many companies lining up to acquire the firm -- some are suggesting Oracle may be preparing a bid for the big data company, such as Drexel Hamilton analyst James Gilman.
Shares in Splunk rocketed by more than 8 percent to $32 a share on Friday's close, but opened down by 3 percent in early morning trading on the Nasdaq.
Splunk recently posted a third quarter net loss of $5.5 billion million in November on revenue of $52 million, up 67 percent on a year ago. The firm missed out on Wall Street expectations, but the firm landed more than 350 new enterprise customers.
IBM and Splunk both declined to comment to Bloomberg.