By Maria Armental And Angela Chen
Microsoft Corp. and Salesforce.com Inc. have joined
private-equity investors Permira Advisers LLC and the Canada
Pension Plan Investment Board in the roughly $5.3 billion deal to
take private data-software company Informatica Corp.
The size of the stakes by Microsoft and Salesforce wasn't
disclosed Thursday in Informatica's news release, which also
announced the closing of the deal with Permira and the Canada
pension plan. The deal represents the largest leveraged buyout so
far this year, The Wall Street Journal has reported.
Under the terms of the deal, which The Journal had previously
reported, stockholders received $48.75 in cash, less taxes, for
each share they owned.
The Vanguard Group, BlackRock Fund Advisors and Elliott
Management Corp. were the largest shareholders as of March 31,
according to regulatory filings.
"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 road map and to evolve our
business model," said Sohaib Abbasi in a news release. He will stay
on as chairman.
Founded in 1993, Informatica, which will stop trading Thursday
on Nasdaq, helps companies organize and analyze broad swaths of
information, tapping the growing demand for help with managing what
is known as big data. The company had revenue of around $1 billion
in 2014, up about 11%.
Chief product officer Anil Chakravarthy has taken on the acting
chief executive post, while former Adobe Systems Inc. CEO Bruce
Chizen has joined Informatica as special adviser.
As of Dec. 31, Informatica had 1,237 workers and research and
development centers in 10 countries, according to regulatory
filings.
Write to Maria Armental at maria.armental@wsj.com and Angela
Chen at angela.chen@wsj.com
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