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(Bloomberg) — Salesforce Inc. is in talks to acquire software company Informatica Inc., rebooting a pursuit that fell through last year, people familiar with the matter said.
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If a deal is reached, it could be announced as soon as next week, according to the people, who asked to not be identified because the discussions are private. No final decision has been made and talks may still falter or another buyer could emerge, they said.
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Cloud Software Group has been interested in the asset too, the people said.
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Shares in Informatica rose as much as 28% on Friday for their biggest intraday gain. The stock was up roughly 20% at 3:38 p.m. in New York, giving the company a market value of about $7 billion. Salesforce was down 3.55% for a market capitalization of around $262 billion.
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Informatica also has about $1.9 billion in total debt, data compiled by Bloomberg show.
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Representatives for Salesforce and Cloud Software Group declined to comment. Spokespeople for Informatica and Permira, which backs Informatica, didn’t immediately respond to requests for comment.
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Informatica, which helps customers manage their data in the cloud, has long been a potential takeover target. Salesforce held talks to buy the company just over a year ago, Bloomberg News reported at the time. The talks cooled with the parties struggling to agree to terms.
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Informatica was taken private in 2015 by private equity firm Permira and the Canada Pension Plan Investment Board in a $5.3 billion transaction. They took the company public again in 2021 and remain sizable shareholders.
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—With assistance from Reshmi Basu.
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(Updates shares in fourth paragraph.)
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English (US)