DocuSign Inc.’s stock surged 10% late Thursday following a report that private-equity firms Bain Capital and Hellman & Friedman are competing to acquire the provider of online-signature services. The firms are among the final bidders for DocuSign, according to a Reuters report that cited people familiar with the matter. An outcome is expected within weeks.

Blackstone Inc. held discussions about a possible deal, but is no longer in the running, according to the Reuters report.

This news comes as a significant development in the financial market, as the competition among private-equity firms for the acquisition of DocuSign Inc. indicates the company’s strong position and potential for growth in the online-signature services sector.

Jon Swartz, a senior reporter for MarketWatch, reported on this development, highlighting the involvement of major players in the tech industry, such as Netflix, Facebook, and Google. With over 20 years of experience in covering technology, Jon has provided valuable insights into this emerging market trend.