Data integration software provider Informatica has been acquired by a company controlled by the Permira funds and Canada Pension Plan Investment Board (CPPIB). Microsoft Corporation and Salesforce Ventures, Salesforce’s corporate investment group, are also strategic investors in the company alongside the Permira funds and CPPIB. In making the announcement, Informatica said the new ownership would allow it continue to grow while taking a longer view rather than focusing on quarters.
Informatica’s stockholders had approved the acquisition of Informatica by the Permira funds and the Canada Pension Plan Investment Board (CPPIB) at a special stockholders’ meeting earlier this year in June.
The acquisition is valued at approximately $5.3 billion, and as a result, Informatica’s stock ceased trading on the NASDAQ under the ticker symbol INFA.
As part of the transition, the company is also changing leadership. Sohaib Abbasi, chairman and former chief executive officer, will continue to serve as chairman of Informatica. Anil Chakravarthy, chief product officer, will now serve as the acting chief executive officer of Informatica, effective immediately. Bruce Chizen, former chief executive officer of Adobe, has joined Informatica as a board member and as a special advisor to Informatica.
“The Informatica goal remains to grow into a multi-billion dollar leader in all things data. Now as a private company, with a long view measured in years, not quarters, we will have more flexibility and more time to implement our transformative innovation roadmap and to evolve our business model,” said Sohaib Abbasi, chairman, Informatica. “To lead this exciting next phase, I am pleased that Anil Chakravarthy is assuming his new role of acting CEO. It is my distinct honor to also welcome Bruce Chizen, former CEO of Adobe, to Informatica both as a board member and as a special advisor. I have every expectation that the best years for Informatica are yet to come.”
For more information, go to www.informatica.com.