Enterprise software firm Informatica valued at $7.5 billion in stock market return

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 27, 2021

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October 27, 2021

(Reuters) – Shares of Informatica Inc fell nearly 5% in their stock market return on Wednesday, fetching a valuation of $7.5 billion for the enterprise software firm that was taken private six years ago.

Redwood City, California-based Informatica’s shares opened at $27.55. The company sold 29 million shares priced at $29 apiece, at the bottom end of its price range, raising $841 million.

Founded in 1993, the company offers subscription-based data management services over the cloud and also helps automate tasks for more than 5,700 active customers, including the U.S. Air Force, automaker Nissan, supermarket chain Kroger and biotech firm Amgen.

Informatica was taken private in 2015 for about $5.3 billion, by a consortium that included private equity firm Permira Advisers Ltd and Canada Pension Plan Investment Board.

Informatica’s weak start in its second stint as a publicly traded firm further underscores the falling appetite for IPOs, which have globally slowed in the third quarter of 2021 from their frenetic pace in the three months prior.

Although tech listings remain investor darlings, their valuations have come under increased scrutiny.

The U.S. IPO market has had some recent hiccups as well, with NordicTrack-owner iFIT Health & Fitness Inc and Allvue Systems Holdings pulling the plug on their listings earlier this month, citing adverse market conditions.

Goldman Sachs & Co and J.P. Morgan are the lead underwriters for the IPO.

(Reporting by Manya Saini and Noor Zainab Hussain in Bengaluru; Editing by Ramakrishnan M. and Shounak Dasgupta)

Source Link Enterprise software firm Informatica valued at $7.5 billion in stock market return

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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.