Salesforce is buying AI-powered cloud data management company Informatica in an approximately $8 billion deal, according to the Associated Press.
Informatica’s shareholders will receive $25 per share, a premium of about 11% from Friday’s closing price of $22.55. The transaction will give Salesforce access to Informatica’s data management capabilities.
Robin Washington, president and chief operating and financial officer at Salesforce, said in a statement that the acquisition will look to take advantage of Informatica’s capabilities quickly, particularly in areas such as the public sector, life sciences, health care and financial services. San Francisco-based Salesforce is set to report its quarterly financial results Wednesday after the bell.
Both companies’ boards have approved the deal, which is expected to close early in Salesforce’s fiscal 2027.
Shares of Salesforce rose slightly before the market opened on Tuesday, while Informatica’s stock jumped 6%.
