Salesforce stock got a bump Monday morning following a report by The Wall Street Journal that it is no longer pursuing a deal to buy Informatica, a cloud data management firm that serves the likes of Deloitte and Unilever.
Informatica said Monday it was not currently in talks to sell itself, pouring cold water on reports that Salesforce was discussing a roughly $10 billion deal.
Investors weren’t too keen on the deal as shares of both Salesforce and Informatica fell sharply after the talks were first reported earlier this month.
Rumors of Salesforce acquiring Informatica (INFA) have caused a stir in the market. See what I think of the rumored acquisition and my recommendation on CRM.
Salesforce Inc. has reportedly dropped plans to acquire data management company Informatica Inc. for about $10 billion. Although earlier reports in the media suggested that Salesforce was interested in buying Informatica,