By Sam Boughedda
Q2 Holdings (NYSE:QTWO), the banking software company, has reportedly put its sale on hold after bids were below expectations, according to Dow Jones News.
The company had received interest from private-equity firms at the beginning of the year, with Bloomberg reporting in May that the company was weighing options.
Citing sources familiar with the matter, Dow Jones said the Austin-based company hired Morgan Stanley to advise, receiving bids in May that came in below expectations.
The report further stated that one banker said the deal was “not worth the premium required to get a deal done.”
However, there is still the potential for the company to speak with potential buyers in a couple of months.
Q2 shares have plunged more than 40% this year, currently trading around the $45.60 mark after a 14% fall Monday, well below its high of nearly $150 back in early 2021.