Informatica, the Redwood City, Calif.-based data integrator has announced the completion of its acquisition by private equity interests controlled by the Permira funds and Canada Pension Plan Investment Board, for a price tag of about $5.3 billion.
Informatica announced that Anil Chakravarthy will now serve as acting CEO. Former CEO Sohaib Abbasi continues to be the Chairman of the company, which claims 5,800 enterprise customers.
Microsoft and Salesforce Ventures both have invested in the company as part of the deal. However, their respective stake acquisitions have not been disclosed in the press release.
“Informatica has been a strong part of Microsoft’s partner ecosystem as a data integration leader and we are excited to support Informatica in this new stage
Informatica’s shareholders had approved an acquisition by the Permira funds and CPPIB back in June, after the company reportedly received competitive bids from several firms.
“Informatica is a billion-dollar category leader with an outstanding record of innovation, customer success and financial growth under Sohaib’s leadership,” said Brian Ruder, a Permira Partner and Co-Head of the firm’s Technology team.
Similarly, Mark Jenkins, Senior Managing Director & Global Head of Private Investments, CPPIB, stated- “We look forward to working with management, including Anil as acting CEO, to support the Company in its vision to become a multi-billion dollar leader in the broader data integration space.”