Investing.com-- Salesforce Inc (NYSE:CRM) has failed to reach an agreement to take over data-management software firm Informatica Inc (NYSE:INFA) after the two could not agree to a price, reports from the Wall Street Journal and Reuters showed on Sunday.
The Wall Street Journal reported on Sunday that the two had failed to reach an agreement amid disagreements over the terms of the deal. A report from Reuters said that the two were unable to agree to a takeover price.
The reports come after news had broken earlier in April that enterprise software developer Salesforce was in talks to take over Informatica- a deal that would have ranked among Salesforce’s biggest acquisitions in recent years, after the firm acquired workplace messaging app Slack Technologies (NYSE:WORK) for $28 billion in 2021.
As of April 19, Informatica has a market capital of $12.09 billion. The company more than doubled in value over the past year after it rolled out a slew of artificial intelligence tools across its corporate software products.
Saleforce's stock was also sitting on a heady 33% jump over the past six months, as the firm incorporated AI into its own products. A takeover of Informatica would have allowed Salesforce to fold Informatica's offerings into its own suite of products, while also giving Salesforce access to Informatica's large pool of clients, which include consumer goods giant Unilever PLC (NYSE:UL), major automaker Toyota (NYSE:TM) Motor (TYO:7203) and accounting major Deloitte.
Salesforce and Informatica’s stock prices had fallen in response to initial reports of a takeover.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.