In a business update, American software company Informatica announced it is not involved in any discussions to be acquired.
The market update – directly from one of the parties involved – followed swirling rumours of the American customer relationship management (CRM) software maker Salesforce in talks to potentially buy out Informatica for around $11 billion, according to several news reports.
The Wall Street Journal, which first broke news of the talks earlier in April, later reported that negotiations between both parties came to a standstill as they could not agree on the terms of the deal. Salesforce was reportedly looking to buy the firm at a price lower than what Informatica was trading for, according to sources.
”Our business fundamentals continue to be very strong and we look forward to discussing our first quarter financial results and outlook on May 1,” said Amit Walia, CEO of Informatica, in the business update issued on 22 April.
The company further wrote: “In addition, on April 12, 2024, The Wall Street Journal published a story that the company was in advanced talks to be acquired, according to sources familiar with the matter.
“Although Informatica’s policy is not to comment on market rumors or media speculation, the company announced that it is not currently engaged in any discussions to be acquired.”
Had the deal gone ahead, it would have been one of Salesforce’s largest acquisitions after its $27 billion purchase of Slack in 2020, and the $15 billion acquisition of Tableau in 2019.
-
Shruti Khairnar is a seasoned B2B reporter with a diverse background in financial journalism. She has written for prominent B2B publications including FinTech Futures, ESG Investor, Sustainabonds and more.
