Salesforce to acquire data management company Informatica in $8 billion deal

Salesforce Inc. signage during the Singapore FinTech Festival in Singapore, on Thursday, Nov. 3, 2022. Salesforce announced Tuesday that it's buying cloud data management firm Informatica in an $8 billion deal to bolster the enterprise software giant's push into artificial intelligence. Shares of Salesforce were up about 1% in U.S. premarket trading. Informatica shares climbed about 6%. "Truly autonomous, trustworthy AI agents need the most comprehensive understanding of their data," said Steve Fisher, Salesforce president and chief technology officer, in a release. "The combination of Informatica's advanced catalog and metadata capabilities with our Agentforce platform delivers exactly this." Under the terms of the deal, holders of Informatica's Class A and Class B-1 common stock will receive $25 in cash per share, according to a press release announcing the deal. Salesforce, which specializes in customer relationship management software, said that it would look to combine Inform ... Read full article.