Confluent soars after report IBM nears $11 bln acquisition deal

Shares of data-streaming platform Confluent CFLT.O jump 31.6% premarket to $30.45

IBM IBM.N is in advanced talks to acquire CFLT for about $11 billion - WSJ reports

Reuters reported in October that CFLT was weighing a potential sale and had tapped an investment bank for the process

CFLT has a market cap of $8.09 bln, as of Friday's close, according to LSEG data

IBM reported a slowdown in its cloud software segment in Q3, and has been looking to expand its cloud-based offerings to capture demand

CFLT stock down 17.24% YTD, up to last close