Shares of Rosetta Stone surged as much as 17% on Friday morning after the company said it has been approached by a private investment firm.
In a statement Friday, the company said its Board of Directors has received an expression of interest from RDG Capital Fund Management.
Rosetta Stone makes the popular software for learning new languages.
The statement said: “The Board stated that it will carefully evaluate the expression of interest. The Board also said that the Company is actively implementing its strategic plan, which it believes will deliver attractive value for shareholders.”
The stock rose as high as $US7.95 a share. The company has a market cap of around $US21 million.
Shares are down about 23% year-to-date and over the past 12 months.
The broader stock market is trading in the red on Friday.
Here’s a chart showing Rosetta Stone’s pop:
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