Salesforce agrees to buy Informatica for $8 billion in its biggest acquisition since Slack
The company behind most of the things you have to log in to at work every morning is getting bigger.
Slack owner Salesforce on Tuesday announced that it’s agreed to buy cloud data management company Informatica for $8 billion. Reports of on-and-off deal talks between the two companies have swirled for about a year.
According to Wedbush Securities analyst Dan Ives, the acquisition is the “right deal at the right time” for Salesforce and “will help significantly enhance [Salesforce’s] AI strategy further.”
If approved, the deal would mark Salesforce’s biggest buy since it acquired Slack in 2021 for nearly $28 billion.
At $25 a share, the deal price is actually below Informatica’s value earlier this year before a weak earnings report and forecast tanked the stock.
Shares were up about 5% to $23.81 Tuesday morning, after they had ramped up Friday on reports that the two companies were talking about a deal again.
According to Wedbush Securities analyst Dan Ives, the acquisition is the “right deal at the right time” for Salesforce and “will help significantly enhance [Salesforce’s] AI strategy further.”
If approved, the deal would mark Salesforce’s biggest buy since it acquired Slack in 2021 for nearly $28 billion.
At $25 a share, the deal price is actually below Informatica’s value earlier this year before a weak earnings report and forecast tanked the stock.
Shares were up about 5% to $23.81 Tuesday morning, after they had ramped up Friday on reports that the two companies were talking about a deal again.
