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Informatics (NYSE:INFA) dropped by 6% in pre-market negotiations as the data management software company confirmed that it is not currently engaged in acquisition talks.
Monday’s statement comes after the WSJ reported last Sunday that Salesforce (NYSE:CRM) negotiations to acquire Informatica collapsed after the holidays I couldn’t agree on the terms. Salesforce was discussing a price for Informatica around $30 per share. The WSJ on April 12 reported that Salesforce (CRM) He was in advanced discussions to acquire Informatica (INFA).
Salesforce Stock (CRM). increased by 2.3% on Monday, after falling 8% last week in the wake of the WSJ’s report on the potential acquisition of a company with a $10.5 billion market capitalization.
Informatica (INFA) said it expects GAAP total revenue, subscription ARR, cloud subscription ARR and non-GAAP operating income to all fall within the upper half of the indicative ranges previously provided by the company in its earnings release of February 14th. Additionally, INFA plans to bring back the adj. uncapped free cash flow (after tax) that significantly exceeds 100% of non-GAAP operating income. The Company also reaffirmed its full-year 2024 financial outlook.
“Our business fundamentals continue to be very strong and we look forward to discussing our first quarter financial results and outlook on May 1,” Amit Walia, CEO of Informatica, said in the statement.
Informatica (INFA) will report first quarter results on May 1.