ArcSight has come up for sale. Security software developer ArcSight has stated that the company has been put in auction, while most of the industries such as Oracle, Hewlett-Packard and IBM may be eyeing upon the firm, the Wall Street Journal reports.

The reports released by the sources at the firm claim that firms which are associated with the bid such as HP, Oracle, IBM, EMC and CA the bidding might increase up to $1.5 billion to acquire the California based firm with an offering of nearly $40 a share.

ArcSight which was initiated by a firm in 2008, offers software that helps detect unusual activities on the server of the company.

It has further been stated that the deal would soon be materialized in upcoming two weeks. As of now no firms have commented about the issue, but as the firms go in direction of cloud computing, IT giants are aiming to extend their cloud based security portfolios.

In the meanwhile, shares of ArcSight have grown beyond 30 per cent since the news of the auction came up.