Software company BigCommerce explores sale, sources say

BigCommerce BIGC, the e-commerce software maker that used to be backed by SoftBank Group 9984, is exploring a sale after attracting takeover interest, people familiar with the matter said on Tuesday.

BigCommerce has become an acquisition target after losing 90% of its market value in the four years since its initial public offering. It has struggled to compete against larger rival Shopify SHOP.

The Austin, Texas-based company has asked investment bank Qatalyst Partners to solicit interest from potential buyers that include private equity firms, the sources said.

The discussions are at an early stage and no deal is certain, the sources added, requesting anonymity because the matter is confidential.

Spokespeople for BigCommerce and Qatalyst did not respond to requests for comment.