(Bloomberg) -- Private equity firm Permira and the Canada Pension Plan Investment Board agreed to buy Informatica Corp. in a $5.3 billion transaction, the largest leveraged buyout this year. Informatica stockholders will receive $48.75 a share in cash, according to a statement Tuesday. That’s 6.4 percent higher than the closing price of $45.83 on Monday. The stock has gained 20 percent this year.
The software company, based in Redwood City, California, was a target of activist investor Elliott Management, which amassed a stake and pushed for a sale, a person familiar with the matter said in January. Elliott has successfully pushed for deals at other technology companies, including Riverbed Technology Inc. and BMC Software Inc.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access