Software firm Informatica agrees to $5.3bn buyout
Informatica, specialises in helping enterprises work
New York - AFP
Business software group Informatica announced Tuesday it agreed to a $5.3 billion private equity buyout led by the investment firm Permira and Canada Pension Plan Investment Board.
The deal calls for the investors to pay $48.75 for Informatica, specializing in helping enterprises work with big data and cloud technology.
The deal comes following an investment in Informatica from hedge fund Elliot Management and heated interest in this sector.
Last year, two other business software firms, Compuware and Riverbed, agreed to buyouts amid pressure from hedge funds.
Informatica chief executive Sohaib Abbasi said the buyout is "in the best interest of all Informatica stakeholders,” and offers "compelling value."
The plan has been approved by the board of directors and is subject to shareholder and regulatory approval.
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