Salesforce drops after reports it is in talks to acquire Informatica

[Pelican Press 0]

Salesforce drops after reports it is in talks to acquire Informatica

People pass by the Salesforce Tower and Salesforce.com offices in New York City on March 7, 2019.

Brendan McDermid | Reuters

Salesforce stock fell 5% Monday after reports over the weekend that the cloud software company is in advanced talks to buy data-management firm Informatica.

Shares of Informatica dropped 9% Monday following the reports.

The price being weighed is below Informatica’s closing stock price on Friday of $38.48, according to The Wall Street Journal, which

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the talks on Friday. A Reuters

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said the deal could be announced soon.

If the deal is made, it would mark Salesforce’s latest in a series of acquisitions in recent years. It would also be its largest deal since purchasing workplace chat developer Slack for nearly $28 billion in 2021, Salesforce’s largest acquisition to date.

Before paying for Slack, Salesforce bought data visualization company Tableau for $15.3 billion in 2019, and MuleSoft for $6.5 billion in 2018.

Salesforce declined to comment on the reports. Informatica, which is based in Redwood City, California, did not immediately respond to CNBC’s request for comment.

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