April 17, 2008 - Informatica Corporation, an independent provider of data integration software, announced a definitive agreement to acquire Nokia subsidiary Identity Systems, Inc., a pioneer in identity resolution technology.
Identity resolution enables precise identity search and matching to find required critical information for individuals or organizations. This strategic acquisition will extend Informatica products with innovative, differentiated technology to search, match and resolve identity data about a variety of objects including people, companies and products.
Informatica will acquire all of the capital stock of Identity Systems for approximately $85 million in cash. The acquisition is subject to customary closing conditions, and is expected to close by the end of May 2008.
"The combination of Identity Systems and Informatica will offer the most advanced data quality products," said Sohaib Abbasi, chairman and CEO, Informatica. "This combination advances our leadership in three ways. First, we will offer our customers additional innovative capabilities for identity search and resolution. Second, it will extend our data quality products with differentiated cross-language identity matching capabilities. And third, our customers will benefit from the near-universal access of our leading data integration platform to integrate their data including identity data. Together, we will further enable organizations to gain a competitive advantage in today's global information economy by empowering them to access, integrate and trust their information assets."
"We are excited and confident that our innovative solutions, strong partner ecosystem and global customer base will advance Informatica's leadership in the data quality market. We look forward to becoming a part of the leading independent data integration software company," said Sanjay Rao, general manager, Identity Systems.
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