- Banking software provider Q2 Holdings, Inc (NYSE:QTWO) explored options, including a sale after receiving takeover interest, Bloomberg reports.
- The Austin-based company fielded interest from potential private equity buyers.
- Cash-rich private equity firms have aggressively pursued software providers, generating steady cash flow.
- The tech selloff has further created buying opportunities.
- Q2 offers cloud-based digital banking, lending, and other services to banks, financial technology firms, alternative finance providers, and clients.
- Q2 had a net loss of about $(23.6) million in the quarter ending March 31, compared with a net loss of $(25.7) million a year ago due to higher costs tied to hiring and other expenses.
- Price Action: QTWO shares traded higher by 20.10% at $50.55 on the last check Tuesday.
