Salesforce moves to acquire Informatica for $8 billion in major software deal; key details here
Summary
San Francisco-based Salesforce held talks to buy the company just over a year ago, Bloomberg News reported at the time. “Our acquisition strategy is methodical, patient, and decisive,” Robin Washington, Salesforce’s president and chief operating and financial officer, said in the statement. “This proposed acquisition will be a key enabler for Salesforce’s next phase of AI-driven growth — and we will move quickly to integrate their capabilities.” Shares of Informatica jumped 5.8% in premarket trading on Tuesday. It could be strategic given the intensifying competition in the market for artificial intelligence-driven databases, Bloomberg Intelligence analyst Sunil Rajgopal wrote in a note on Friday. JPMorgan Securities LLC served as financial advisor to Salesforce, and Wachtell, Lipton, Rosen & Katz and Morrison & Foerster LLP were legal counsel.