Salesforce is in advanced talks to buy Informatica, WSJ reports (updated)

Informatica

13/04/2024 02:26

(Adds details, background from paragraph 4)
       April 12 (Reuters) - Salesforce  CRM.N  is in advanced
talks to acquire data-management software provider Informatica
 INFA.N , the Wall Street Journal reported on Friday, citing
people familiar with the matter. 
     The price of the deal being discussed is below
Informatica's current stock price of $38.48, which is a
potential complication factor, the Journal said.
        Salesforce and Informatica did not immediately respond
to a Reuters' request for comment. 
  
    Informatica, based out of Redwood city, California, is a
cloud management company and has a market capitalization of
about $11.35 billion.
        In early 2023, Salesforce had become a target for
activist investors to push for changes resulting in cost cuts,
increased share buybacks and a dismantled mergers and
acquisition committee.
  
        San Francisco based Salesforce has historically had a
keen interest in deals and investments. 
  
        The customer relationship management technology provider
last month 
    led
     a $106 million funding round for Nvidia  NVDA.O  backed
Together AI. 
        Salesforce in 2020 
    acquired
     workplace messaging app Slack Technologies in a $27.7
billion deal, which is the cloud-computing pioneer's largest
acquisition. 

 (Reporting by Urvi Dugar and Utkarsh Shetti in Bengaluru;
Editing by Sandra Maler and Stephen Coates)
 ((UrviManoj.Dugar@thomsonreuters.com;))