Salesforce drops after reports it’s in talks to acquire Informatica

[Pelican Press 0]

Salesforce drops after reports it’s 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 shares closed down 7% on Monday after reports over the weekend that the cloud software company is in advanced talks to buy data-management firm Informatica.

Shares of Informatica, which has a market cap of around $10 billion, closed down 6% 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

This is the hidden content, please

• Sign In
• or
• Sign Up

the talks on Friday. A Reuters

This is the hidden content, please

• Sign In
• or
• Sign Up

said the deal could be announced soon. Neither publication provided specifics on the size of a potential transaction.

Regardless, it would be Salesforce’s largest deal since purchasing Slack for nearly $28 billion in 2021, the company’s largest acquisition to date.

Prior to 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 didn’t respond to CNBC’s request for comment.

Don’t miss these stories from CNBC PRO:

This is the hidden content, please

• Sign In
• or
• Sign Up

Business,Technology,Breaking News: Technology,Salesforce Inc,Informatica Inc,business news
#Salesforce #drops #reports #talks #acquire #Informatica

This is the hidden content, please

• Sign In
• or
• Sign Up