Informatica Corporation, a provider of data integration and business intelligence software, announced the execution of a definitive agreement to acquire privately held Striva Corporation, an award-winning provider of mainframe integration solutions that Informatica has OEM'd for more than two years and branded as part of its PowerConnect family of products. Striva's patented technology, which includes mainframe solutions for high-speed bulk data movement and real-time change capture, will extend Informatica's leadership in comprehensive enterprise data integration and business intelligence.
Informatica is acquiring all of the capital stock of Striva in a cash and stock transaction valued at approximately $62 million, and the acquisition will be accounted for under the purchase method of accounting. The acquisition has been approved by the board of directors of each company and is subject to regulatory approval and customary closing conditions. Informatica expects the acquisition to be accretive to earnings before amortization of intangibles and stock-based compensation beginning in the second half of 2004.
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