Not engaged in any discussions to be acquired, says Informatica

Data management company Informatica said that it is no talks to get acquired. Informatica made the statement on the sidelines of its financial results outlook for first quarter. “Although Informatica’s policy is not to comment on market rumors or media speculation, the Company announced that it is not currently engaged in any discussions to be acquired,” said the company statement.

This comes in the background of media reports of Informatica’s acquisition by enterprise software giant Salesforce. To be sure, Wall Street Journal had first reported on April 12 that Salesforce was in ‘advanced talks’ to buy Informatica. Later, a Monday report by Reuters said that the talks between the two firms had fallen through as they couldn’t arrive on mutually agreed terms. 

The Informatica deal was anticipated to be the largest for Salesforce since its $28 billion acquisition of Slack in 2021. In an interview with MarketWatch on April 17, Informatica co-founder Gaurav Dhillon said that the acquisition was a bad idea. He added that Salesforce’s integration of Informatica’s technology would be complex and time consuming project that can take more than five years.

Besides the clarification, Informatica also announced that its executive vice president and chief product officer Jitesh Ghai is stepping down to pursue opportunities at another company. Ghai has been part of the company for the last 14 years in roles such as general manager in data management, director, and senior director. Before Informatica, Ghai worked at Cisco.

Informatica said that it expects total revenues, subscription ARR, cloud subscription ARR, and non-GAAP operating income to be all within the upper half of the guidance ranges previously provided. First quarter 2024 financial results will be released on May 1, 2024, after market close.