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Salesforce drops after reports it is in talks to acquire Informatica

In Business
April 15, 2024

People pass by the Salesforce Tower and Salesforce.com offices in New York City on March 7, 2019.

Brendan McDermid | Reuters

Salesforce stock fell 5% Monday after reports over the weekend that the cloud software company is in advanced talks to buy data-management firm Informatica.

Shares of Informatica dropped 9% Monday following the reports.

The price being weighed is below Informatica’s closing stock price on Friday of $38.48, according to The Wall Street Journal, which first reported the talks on Friday. A Reuters article said the deal could be announced soon.

If the deal is made, it would mark Salesforce’s latest in a series of acquisitions in recent years. It would also be its largest deal since purchasing workplace chat developer Slack for nearly $28 billion in 2021, Salesforce’s largest acquisition to date.

Before paying for Slack, Salesforce bought data visualization company Tableau for $15.3 billion in 2019, and MuleSoft for $6.5 billion in 2018.

Salesforce declined to comment on the reports. Informatica, which is based in Redwood City, California, did not immediately respond to CNBC’s request for comment.

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