Connect with us

Published

on

Customer relations software maker Salesforce is in advanced talks to acquire Informatica, a person familiar with the matter told Reuters on Friday, in the latest sign of increased deal-making in the technology sector.

A deal could be announced soon, said the source, who requested anonymity as the discussions are confidential.

The price being discussed is below Informatica’s current share price of $38.48, according to the Wall Street Journal, which first reported the talks between Salesforce and Informatica.

Salesforce and Informatica did not immediately respond to requests for comment.

Private equity firm Permira, which along with the Canadian Pension Plan Investment Board holds a controlling stake of over 75% in Informatica, declined to comment. CPPIB could not be reached for comment.

Founded in 1993, Informatica offers subscription-based data management services over the cloud and also helps to automate tasks for more than 5,000 active customers.

Based in Redwood City, California, its customers include Unilever and Deloitte, according to its website.

Informatica’s shares have risen nearly 43% so far this year, valuing the company at about $11.35 billion.

The company was taken private in 2015 for about $5.3 billion by a consortium that included Permira and CPPIB.

Six years later, Permira and CPPIB took Informatica public again and its shares were listed on the New York Stock Exchange.

If the deal goes through, it would be the biggest for Salesforce since it acquired workplace messaging app Slack Technologies in 2020 for nearly $28 billion.

Salesforce’s dealmaking strategy came under scrutiny in early 2023, when activist investors, including ValueAct Capital and Elliott Management, questioned the company’s strategy and pushed the management for changes.

In response, Salesforce implemented cost-cutting and increased share buybacks. It also disbanded its M&A board committee.

Salesforce has been a prolific acquirer. In 2019, it bought data analytics platform Tableau Software in an all-stock deal valued at $15.7 billion.

As part of the current enthusiasm for artificial intelligence sweeping through the technology sector, several large deals have been signed.

In January, design software company Synopsys agreed to buy smaller rival Ansys for about $35 billion. Hewlett Packard Enterprise struck a deal in January to buy networking gear maker Juniper Networks for $14 billion.

Technology accounted for the largest share of merger and acquisitions during the first quarter, jumping more than 42% year-on-year to about $154 billion, according to Dealogic.

Continue Reading

Sports

‘Gritty’ McBain secures 5-year deal from Mammoth

Published

on

By

'Gritty' McBain secures 5-year deal from Mammoth

SALT LAKE CITY — The Utah Mammoth re-signed center Jack McBain to a five-year contract worth $21.25 million on Monday.

McBain will count $4.25 million against the salary cap through the 2029-30 NHL season, which was announced a little more than 24 hours since the team elected salary arbitration with the restricted free agent forward.

“He is a big, strong, physical player who competes hard on a nightly basis and brings a gritty toughness to our group,” general manager Bill Armstrong said. “Jack is an important part of the championship-caliber team we are building, and we look forward to having him back on our roster for the foreseeable future.”

McBain, 25, is coming off setting a career high with 27 points and playing all 82 games. He was one of six players to skate in every game of the organization’s first season in Salt Lake City.

“Jack’s versatility as a player, his care for his teammates and his demonstrated willingness to do whatever it takes to win, are all critical elements to our future team success,” president of hockey operations Chris Armstrong said.

McBain has 82 points in 241 games with the franchise, which moved to Utah from Arizona. Since debuting in April 2022, he ranks third in the league with 832 hits.

Continue Reading

Sports

Johnson, 2-time Cup winner with Lightning, retires

Published

on

By

Johnson, 2-time Cup winner with Lightning, retires

Tyler Johnson has announced his retirement after playing 13 NHL seasons and winning the Stanley Cup twice with the Tampa Bay Lightning.

Johnson called it a career in a lengthy message posted on social media Monday. Johnson had battled injuries in recent years and is set to turn 35 on July 29.

“As a short kid from a small town, I saw my chances of playing in the NHL as very slim,” Johnson wrote on Instagram. “But my family — my parents, Ken and Debbie, and my grandparents — believed in me when doubt clouded my mind. Their unwavering faith turned that dream into reality.”

Listed at 5-foot-8 and 191 pounds, Johnson won at just about ever level, capturing the Western Hockey League and Memorial Cup championships in 2008 with his hometown Spokane Chiefs and the Calder Cup championship with Norfolk of the American Hockey League in 2012.

The NHL brought more success, as he skated in 863 regular-season and playoff games since debuting in the league in 2013, putting up 498 points. Johnson was part of the Lightning’s core when they reached the final in 2015 and helped them hoist the Cup back to back in 2020 and ’21.

Johnson finished with Chicago, playing three seasons with the Blackhawks, and Boston, signing with the Bruins early last season following his training camp tryout.

“After a lifetime devoted to hockey, I’m ready for what’s next,” Johnson said. “This moment is bittersweet, but I leave the game with no regrets.”

Continue Reading

Sports

‘Workhorse’ York nets five-year deal from Flyers

Published

on

By

'Workhorse' York nets five-year deal from Flyers

Cam York and the Philadelphia Flyers agreed to terms Monday on a five-year contract worth $25.75 million, with re-signing the restricted free agent defenseman completing perhaps the team’s last important piece of offseason business.

York, 25, will count $5.15 million against the salary cap through the 2029-30 NHL season. That price could turn out to be a bargain with the upper limit rising from $88 million this past season to $113.5 million by 2027-28.

“Cam has been a workhorse for our team over the last few seasons,” general manager Danny Briere said. “We’re excited by his development and look forward to his continued growth and emergence as a young leader within our group.”

The Flyers are trying to shift from rebuilding to contending, and York was the final player on the roster without a contract. They acquired Trevor Zegras in a trade from Anaheim last month and signed fellow center Christian Dvorak and backup goaltender Dan Vladar on the first day of free agency.

York, the 14th pick in the 2019 draft, has skated nearly 21 minutes a game so far in his pro career, all with Philadelphia. He has 77 points in 235 games for the Flyers, who have not made the playoffs since 2020.

“I believe in this team, and I love the direction we are heading,” York said. “I couldn’t be more excited to continue this journey and build something special together.”

Continue Reading

Trending