Informatica Goes Private; Microsoft And Salesforce Join As Strategic Investors

(RTTNews) - Data integration software provider Informatica Corp. announced the successful completion of its acquisition by a company controlled by the Permira funds and Canada Pension Plan Investment Board or CPPIB. Additionally Informatica announced that Microsoft Corporation and Salesforce Ventures have agreed to become strategic investors in Informatica alongside the Permira funds and CPPIB.

The acquisition is valued at approximately $5.3 billion, with Informatica stockholders receiving $48.75 in cash per share.

Informatica's stock will cease trading on the NASDAQ under the ticker symbol INFA effective today.

Informatica also announced leadership changes. Sohaib Abbasi, chairman and former chief executive officer, will continue to serve as chairman of Informatica. Anil Chakravarthy, chief product officer, will now serve as the acting chief executive officer of Informatica, effective immediately.

Bruce Chizen, former chief executive officer of Adobe, has joined Informatica as a board member and as a special advisor to Informatica.

In April, Informatica said that it agreed to be taken private by a company controlled by private equity firm Permira Advisers LLC and the Canada Pension Plan Investment Board or CPPIB for about $5.3 billion.