Shares of Brocade Communications Systems soared more than 24 percent in intraday trade Monday after a report that it is advanced talks to sell itself.
A spokesperson for Brocade did not immediately respond to CNBC's request for comment.
The American tech company, which specializes in data and storage networking products, is approaching the final stages of a sale process and a deal could be announced as soon as this week, reported Bloomberg, citing people familiar with the matter.
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Brocade's stock is up more than 15 percent year to date.