Data software company Informatica announced, on Tuesday, that it is set to be acquired by private equity firm Permira and global investment management organization Canada Pension Plan Investment Board (CPPIB).
Permira and the CPPIB will pay approximately $5.3 billion, with shareholders receiving $48.75 in cash per share of common stock according to a release, in what the Wall Street Journal called the largest leveraged buyout this year.
Informatica's board of directors unanimously okayed the deal, and pending shareholder approval, it is expected to be completed in the second or third quarter of 2015.
Brian Ruder, a partner at Permira, hailed the acquisition as supporting of the software company's "ongoing transition to cloud and subscription based services.”
Informatica, based in Redwood, Calif., is also pursuing multibillion dollar market opportunities in master data management, data integration, cloud integration and data security.