--Cisco Systems Inc. has proposed buying software company Datadog Inc. for a value significantly higher than the $7 billion Datadog is aiming for in an initial public offering, Bloomberg reported Wednesday, citing sources familiar with the matter.

--Datadog rejected the proposal, opting to continue with its IPO, and claimed the company will be worth more over time, sources said, according to the report.

--Datadog raised its IPO share price on Tuesday to a range of $24 to $26 a share from $19 to $22, per filings.

Full story: https://www.bloomberg.com/news/articles/2019-09-18/cisco-is-said-to-have-bid-7-billion-plus-for-datadog-before-ipo

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

September 18, 2019 18:22 ET (22:22 GMT)

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