|
Informatica shareholders will get $48.75 per
share in cash, the company said.
The company's shares closed at $44.22 on Thursday.
Informatica's shares rose 4 percent to $45.83 on the Nasdaq on
Monday after Reuters reported that both Permira and CPPIB and a
partnership of Thoma Bravo LLC and Ontario Teachers' Pension
Plan had submitted bids for the company.
Redwood City, California-based Informatica helps companies
connect software and enterprise applications and store data.
It competes in the integration software market with Tibco, which
was taken private for $4.3 billion in December by buyout firm
Vista Equity Partners.
Informatica's revenue rose 10.5 percent in 2014 to $1.05
billion, while its pre-tax income jumped 21 percent to $170.3
million.
Activist hedge fund Elliott Management Corp disclosed an 8
percent stake in Informatica in January and said in a regulatory
filing that it was speaking to the company about ways to
maximize shareholder value.
The deal is the largest leveraged buyout so far this year.
Qatalyst Partners was Informatica's financial adviser and Wilson
Sonsini Goodrich & Rosati was legal counsel.
BofA Merrill Lynch, Goldman Sachs & Co, Macquarie Capital, and
Union Square Advisors LLC were financial advisers to the Permira
funds and CPPIB.
(Reporting by Devika Krishna Kumar in Bengaluru and Greg
Roumeliotis in New York; Editing by Simon Jennings)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
