Compuware, the high-tech software firm launched by Carolina Hurricanes owner Peter Karmanos and the subject of hostile takeover talk,  is looking to spin off a subsidiary.

IOn Wednesday, Compuware (Nasdaq: CPWR) says its wholly owned subsidiary Covisint, which focuses on “cloud computing,” will go public through a stock offering.

When the stock might be offered and at what price range “have yet to be determined,” Compuware said. 

“The proposed IPO is intended, among other things, to give Covisint greater flexibility to pursue strategic opportunities and to increase the company’s visibility in the marketplace,” Compuware added.

Credit Suisse Securities, Pacific Crest Securities and Allen & Company will handle the offering.

If the IPO is successful, Covisint would trade on the Nasdaq under the symbol “COVS.”

Compuware itself has been the subject of a possible takeover for months.

Karmanos, who recently retired from the company’s board as chairman and as a member, rejected a $2.3 billion takeover offer back in December.

Bloomberg news has estimated that Compuware could gain as much as 18 percent above that offer.

Compuware is based in Detroit and has an office in Durham.

The firm spurned an $11-per-share bid from activist shareholder Elliott Management Corp. The stock has generally traded above Elliott’s takeover price every day since Jan. 25, when Compuware rejected the bid and said it would evaluate “any credible offer it receives.”

Shares traded Wednesday at $11.30.

In addition to private-equity bidders, IBM (NYSE: IBM) and CA Inc. “stick out as potential acquirers at least for parts of the business, and even potentially the entire business,” Derrick Wood, a San Francisco-based analyst at Susquehanna International Group, told Bloomberg recently.

He estimates Compuware may lure takeover bids of $12 to $13 a share.