Yext, Inc. (NYSE:YEXT), a maker of software that promotes companies' information in online search directories and websites, is preparing to explore a sale after attracting takeover interest, according to people familiar with the matter. Yext has hired investment bankers to get ready to explore strategic alternatives, the sources said. Yext shares rose as much as 21% in morning trading in New York on the news on June 7, 2024, giving the company a market value of about $700 million.

The sources cautioned that the New York-based company may not proceed with any deal. They asked not to be identified because the deliberations are confidential. A Yext spokesperson declined to comment.