Future Tech

Salesforce is in advanced talks to buy Informatica, WSJ reports

Tan KW
Publish date: Sat, 13 Apr 2024, 01:14 PM
Tan KW
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Future Tech

 Salesforce is in advanced talks to acquire data-management software provider Informatica, 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 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.

 


  - Reuters

 

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