Salesforce's plans to purchase data-management software provider Informatica have reportedly stalled. While the two sides were apparently in advanced talks for a deal earlier this month, the companies were not able to come to terms, Reuters reported Sunday (April 21), citing a source familiar with the matter.
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.
Salesforce (NYSE: CRM ) stock is trending and advancing on news that the conglomerate's talks about a potential takeover of Informatica (NASDAQ: INFA ) appear to have stalled. The two sides reportedly have come to an impasse regarding differences in the price of the potential deal.
Salesforce Inc (NYSE:CRM, ETR:FOO) has walked away from its takeover talks with data management firm Informatica as the two companies have been unable to agree on terms, according to reports from multiple publications including The Wall Street Journal and Bloomberg citing a person familiar with the matter. According to the source, the two companies could not agree on price.
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Salesforce Inc (NYSE:CRM, ETR:FOO), the business software provider, saw its shares jump more than 3.5% in pre-market trading after reports indicated it had walked away from a deal with Informatica. It is believed Salesforce walked away from purchasing the data management group after failing to agree on terms, according to reports from over the weekend.
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.
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