JDA Software (JDAS) Taps Advisor to Explore Potential Sale

October 30, 2012 12:53 PM EDT
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JDA Software Group Inc. (Nasdaq: JDAS) may be up for sale, according to reports out late Monday night.

Reuters says that the enterprise software maker has tapped J.P. Morgan as an advisor in a potential sale. Sources also said the JDA has received indications of interest from "multiple parties."

As of the close last Friday, JDA claims a market cap of about $1.5 billion. Shares have been trading near multi-year highs, having only reported a better stock price in May 2011.

Last March, Praesidium Investment Management Company LLC disclosed taking a stake in the company, gradually increasing that stake to 8.9 percent as of its latest filing. No word on whether or not the private equity firm would be a front-runner for a potential takeover of JDA.

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