Elliott Management, an activist investment firm that prompted BMC Software's recent sale to private equity, has acquired a stake in enterprise storage vendor NetApp, according to a report by Bloomberg. 

The news agency claims the hedge fund is pushing the company to replace its board of directors. 

After a few years of remarkable growth, NetApp's business has stagnated of late. In its most recent financial quarter, sales grew by 4% to $1.6 billion, with product sales falling slightly. 

Earlier this week, an investment analyst from Piper Jaffray reportedly claimed that NetApp is preparing to cut 1,300 jobs, around 10% of its workforce. 

There has been no suggestion yet that NetApp will seek to be acquired, but pundits agree that it is a possibility. The most likely candidates to acquire the company would be Oracle and Cisco. 

Ealier this month, BMC Software accepted a $6.9 billion offer to be acquired by a consortium of private equity firms. Last year, Elliott Management had acquired a 5% stake in the company, and wrote a letter to the board of directors calling for a sale.