Security company Websense is working with Frank Quattrone’s Qatalyst Partners to broker a sale, which could fetch up to $1 billion, according to a report in the Wall Street Journal. The news drove Websense shares up nearly 12% today.
Possible buyers include other security firms like Symantec or private equity companies.
The company is best known for its filtering software, which can be used by companies to prevent employees from visiting inappropriate sites during work. But it’s also got other products for securing email and corporate data.
Security has been a hot area for consolidation lately. Intel bought McAfee last year for $7.7 billion and said last week that it would incorporate McAfee’s technology into its chips. Hewlett Packard bought ArcSight for $1.5 billion last year, and earlier this week HP CEO Leo Apotheker cited security as one area where HP can beat rivals in cloud computing.
Websense was founded in 1994 and went public in 2000, and its current market cap is north of $900 million.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.