Informatica not in acquisition talks, shares drop

(Reuters) -Data-management software firm Informatica is not currently engaged in any discussions to be acquired, the company said on Monday, after media reports of takeover interest from Salesforce.

Shares of Informatica were down around 7% in early trading, at a market value of $10.38 billion according to LSEG data.

Salesforce backed way from its talks to acquire Informatica after the two companies could not agree on terms, a person familiar with the matter told Reuters on Sunday. Reuters reported earlier this month that the talks were at an advanced stage.

The business software maker was discussing a price of around mid-$30s a share for Informatica, according to the Wall Street Journal.

Salesforce did not immediately respond to a Reuters request for comment on Monday.

Informatica also reaffirmed its full-year financial forecast and said it expects first-quarter adjusted operating income, total revenue and a few other metrics to be in the upper half of its previous forecast range.

It will report first-quarter results on May 1.

Founded in 1993, Informatica offers subscription-based data management services over the cloud and also helps automate tasks for more than 5,000 active customers. Informatica's customers include Unilever and Deloitte, according to the company's website.

Informatica also announced the resignation of Executive Vice President and Chief Product Officer Jitesh Ghai on Monday.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Devika Syamnath)

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