Informatica goes private in $5.3 billion buyout
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Under the terms of the agreement, Informatica shareholders will receive $48.75 in cash for each share of Informatica common stock.
Informatica shareholders will receive $48.75 in cash for each share of Informatica common stock.
"While delivering immediate compelling value to our shareholders, we remain committed to the long-term success of our customers, partners, and employees. Permira and CPPIB share both our vision for Informatica to power the data-ready enterprise and our conviction in sustained long-term growth."
"Informatica is an outstanding company and a clear leader in the essential field of enterprise data solutions," said Brian Ruder, a Permira Partner and Co-Head of the firm's Technology Sector Team.
"This transaction represents an excellent opportunity to acquire a market-leading enterprise data integration solutions provider," said Mark Jenkins, Senior Managing Director & Global Head of Private Investments, CPPIB.
Informatica's board has unanimously approved the merger agreement and resolved to recommend that Informatica shareholders adopt the agreement.
The transaction is expected to be completed in either the second or third quarter of 2015, subject to receipt of shareholder approval and customary regulatory approvals, as well as satisfaction of other customary closing conditions.
Informatica's revenue rose 10.5 percent to $1.05 billion in 2014, while its pre-tax income jumped 21 percent to $170.3 million. ■