In the latest sign of the tech sector’s current affinity for making deals, customer relations software maker Salesforce is reportedly nearing an acquisition of Informatica; however, the price potentially being discuss is lower than the company’s current share price of $38.48.
Informatica provides cloud-based data management subscription services and aids in automating tasks for its 5,000-some customers. The private equity firm Permira and the Canadian Pension Plan Investment Board hold a controlling stake of more than 75%.
If the deal closes, it would be Salesforces’ largest acquisition since it purchased Slack Technologies, a workplace messaging app, for almost $28 billion in 2020. It also purchased data analytics platform Tableau Software in a $15.7 billion all-stock deal. However, activist investors sounded alarm bells in early 2023 over the organization’s dealmaking strategy.
