Callidus Software Seeing Strength On dealREPORTER Story

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Callidus Software

is up 2.30% this morning after a story that appeared on dealREPORTER. dealREPORTER hired Cowen Company to evaluate strategic alternatives, according to bankers claiming knowledge of the matter. An industry executive also said a rumor of Cowen having been retained was circulating. Callidus is currently shifting from a traditional software vendor model to a software-as-a-service model and investors are anxious because it has taken longer than expected. It appears Callidus is looking to sell itself at this point, according to dealREPORTER. It also said Callidus has been approached by several private equity firms in the last few weeks. Callidus is a small-cap company with a $100 million market cap.