Informatica to Be Acquired by Permira Funds and Canada Pension Plan Investment Board for $5.3 Billion
On April 7, 2015, Informatica Corporation, the world's number one independent provider of enterprise data integration software and services, announced that it has entered into a definitive agreement to be acquired by a company controlled by the Permira funds and Canada Pension Plan Investment Board (CPPIB) for approximately $5.3 billion. Under the terms of the agreement, Informatica shareholders will receive $48.75 in cash for each share of Informatica common stock. Wilson Sonsini Goodrich & Rosati is acting as legal counsel to Informatica.
Informatica is acknowledged as a leader in several technology categories, including cloud integration, data integration for big data initiatives, and mobile device management solutions.
Informatica Chairman and CEO Sohaib Abbasi said: "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's board of directors 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 the receipt of shareholder approval and customary regulatory approvals, as well as the satisfaction of other customary closing conditions.
For more information, please see the news release concerning the transaction.