Salesforce drops after reports it's in talks to acquire Informatica
source link: https://www.cnbc.com/2024/04/15/salesforce-drops-after-reports-it-is-in-talks-to-acquire-informatica-.html
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Salesforce drops after reports it’s in talks to acquire Informatica
- Salesforce shares fell 7% on Monday after reports that the company is in talks to buy Informatica.
- Shares of Informatica dropped 6% Monday following the reports.
- Informatica, with a market cap of over $10 billion, would be Salesforce’s largest purchase since the company bought Slack for nearly $28 billion in 2021.
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 first reported the talks on Friday. A Reuters article 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.
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