Salesforce Inc. signage during the Singapore FinTech Festival in Singapore, on Thursday, Nov. 3, 2022.
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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 Informatica’s data catalog, integration, governance, privacy and data management services with its agentic AI solution, dubbed Agentforce.
The deal will be funded through a combination of cash on Salesforce’s balance sheet and new debt, the company said.
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