Private equity firms, including Bain Capital, Advent International, and EQT AB, are reportedly competing to acquire Japanese cybersecurity firm Trend Micro, which is valued at 1.32 trillion yen (approximately USD 85.4 billion). Following these acquisition talks, Trend Micro's shares surged over 16% on the morning of February 13, 2025, marking the largest increase since November 2023. The interest from these firms has led to speculation about a potential higher bid for the company, which is currently trading at a premium to its takeover price.