Informatica

Data management software · taken private by Permira, CPP Investments

Entry value$5.3BAug 6, 2015 · deal value Exit value$7.94BOct 27, 2021 · IPO price × shares Multiple1.50×exit ÷ entry, see below Years private6.2Aug 6, 2015 → Oct 27, 2021

Permira and CPP Investments took Informatica, a data integration software company, private in August 2015 and listed it again on the NYSE in October 2021, after six years spent turning a licence business into a subscription and cloud one built around its CLAIRE AI engine. In November 2025 Salesforce bought it to feed data to its AI agents, at a lower share price than the 2021 IPO.

THE CYCLE · PERMIRA + CPP INVESTMENTS

Informatica | private 6.2 years, out at 1.50×

in$5.3B→out$7.94B·1.50×·thensold NOV '25

private public private again · every tag links its source

What happened, step by step

A company controlled by the Permira funds and CPP Investments completed its acquisition of Informatica, valued at about $5.3 billion ($48.75 a share in cash); the stock left Nasdaq.Take-private · Aug 6, 2015
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Management Chief product officer Anil Chakravarthy took over as interim chief executive at closing; former CEO Sohaib Abbasi stayed as chairman.While private · Aug 6, 2015
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Product Moved from a mainly perpetual licence and maintenance model to subscriptions: subscription ARR grew from $99M at the end of 2015.While private · 2021
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Product Cloud annual recurring revenue reached $264M.While private · Jun 30, 2021
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AI Repositioned as the Intelligent Data Management Cloud (IDMC), with CLAIRE, its AI engine, running across the platform.While private · 2021
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Debt Carried $2.77B of long-term debt before the IPO, about $1.87B after using the proceeds.While private · Jun 30, 2021
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Informatica priced its IPO of 29 million Class A shares at $29.00 and began trading on the NYSE as INFA on October 27, 2021.Back to market · Oct 27, 2021
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The sponsors kept about 88.5% of the voting power after the IPO.After · Oct 27, 2021
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Salesforce agreed to buy Informatica for $25 a share in cash, about $8 billion of equity value net of the stake Salesforce already held.After · May 27, 2025
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Salesforce completed the acquisition, to put Informatica's data platform under its Agentforce AI agents.After · Nov 18, 2025
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The multiple, read every way

The 2015 figure is the deal's stated value; the 2021 figure is equity at the IPO price, for a company carrying about $1.9B of debt.

Exit value worked out as 273.7M Class A and Class B-1 shares outstanding after the offering × $29.

The AI angle

Informatica came back as an AI-powered data cloud, and Salesforce bought it as the data layer for AI agents.

“Now as a private company, with a long view measured in years, not quarters,”Sohaib Abbasi, Informatica chairman · at the 2015 take-private · Aug 6, 2015
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“CLAIRE is our AI engine that powers intelligence and automation across our platform.”Informatica · IPO prospectus · Oct 27, 2021
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“This combination brings together Salesforce's Einstein and Informatica's CLAIRE AI engines”Marc Benioff, Salesforce · announcing the purchase · May 27, 2025
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“You have to get your data right to get your AI right,”Marc Benioff, Salesforce · at closing · Nov 18, 2025
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Sources (4)

permira.com /news-and-insights/announcements/informatica-corporation-announces-com
sec.gov /Archives/edgar/data/1868778/000119312521309474/d169828d424b4.htm
salesforce.com /news/press-releases/2025/05/27/salesforce-signs-definitive-agreement-
salesforce.com /news/press-releases/2025/11/18/salesforce-completes-acquisition-of-in

How this is researched

Researched by hand from primary sources: the companies' and buyers' press releases, SEC filings (prospectuses and 8-Ks) and credible press. Each source logo links the page that states the row; anything we couldn't source is left out. The multiple is exit value over entry value as the sources state them; the readings above say where the two are not like for like. Updated Oct 12, 2026.