Informatica acquisition talks announced, Salesforce stock falls.
- On Monday, Informatica reports emerged, causing a 5% decline in Salesforce's stock.
- Shares of Informatica dropped 9% Monday following the reports.
- If the deal is finalized, it will be Salesforce's largest acquisition since their purchase of Slack for approximately $28 billion in 2021.
On Monday, the stock of the cloud software company dropped by 5% following news over the weekend that it is in advanced negotiations to acquire data-management firm Informatica.
Shares of dropped 9% Monday following the reports.
According to The Wall Street Journal, the price being weighed in the talks is below Informatica's closing stock price on Friday of $38.48. A Reuters article stated that the deal could be announced soon.
If the deal is finalized, it will represent Salesforce's most recent acquisition in a string of recent purchases. Additionally, it will be the company's largest acquisition since acquiring workplace chat developer Slack for approximately $28 billion in 2021, marking its largest acquisition to date.
In 2019, Salesforce acquired data visualization company Tableau for $15.3 billion, and MuleSoft for $6.5 billion in 2018, before making the payment for Slack.
Neither Salesforce nor Informatica, based in Redwood City, California, responded to CNBC's request for comment on the reports.
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