Informatica sold to Permira and CPPIB for $5.3bn

Informatica confirmed it is being acquired by Permira funds and Canada Pension Plan Investment Board (CPPIB) for $5.3bn.

The enterprise data integration and management software group said its shareholders will receive $48.75 per share.

The deal is expected to be completed over the second or third quarter of 2015, subject to shareholder and regulatory approvals.

"After careful consideration and deliberation of strategic alternatives, our board of directors unanimously concluded that the sale of Informatica to the Permira funds and CPPIB is in the best interest of all Informatica stakeholders," said Sohaib Abbasi, chairman and chief executive.

Informatica reported revenues of $1bn and profits before tax of $170.3m in 2014.

Following the news, shares jumped 4.6% to 47.9 cents on Tuesday.