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Informatica Stock Tumbles After Ending Speculation About Salesforce Buyout [Video]

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Marketing Platforms and CRM

Data management company Informatica (INFA) is officially off the market, it said Monday, after negotiations with Salesforce (CRM) reportedly fell apart.

Earlier this month, The Wall Street Journal reported that the companies were in “advanced talks” on a deal that would have led to Salesforce acquiring Informatica for about $10 billion. However, on Sunday the Journal reported that the talks had fallen apart after the sides could not agree on terms.

On Monday, Informatica released a statement saying it “is not currently engaged in any discussions to be acquired,” despite its policy of not commenting on market rumors or media reports.

“Our business fundamentals continue to be very strong and we look forward to discussing our first-quarter financial results and outlook on May 1,” Informatica Chief Executive Officer (CEO) Amit Walia said in the statement.

The company also gave other updates on its business, including projections that first-quarter revenue and …

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