indie Semiconductor, Inc. (NasdaqCM:INDI) has been exploring strategic options including a sale, people with knowledge of the matter said. The automotive technology company has been working with an adviser as it fields interest from prospective buyers, according to the people, who asked not to be identified discussing confidential information. Indie Semiconductor could attract interest from industry players and possibly private equity firms, they said.

Shares in Indie Semiconductor rose as much as 16% on June 3, 2024 for their biggest intraday gain in more than six months. The stock was up 8% to $7.20 at 2:01 p.m. in New York, giving the company a market value of about $1.36 billion. There?s no certainty the deliberations will lead to a transaction, and Indie Semiconductor could opt to remain independent, the people said.

A representative for Indie Semiconductor didn?t immediately respond to requests for comment.