NEW YORK (AP) — Informatica Corp. is being acquired by private equity firms Permira funds and Canada Pension Plan Investment Board for about $5.3 billion.
The Redwood City, California-based company helps other companies organize and store data.
Under the deal, shareholders of the data and software company will receive $48.75 per share in cash, a 6.4 percent premium to Monday's closing price of $45.83.
The deal will take the company private and it is expected to be completed in either the second or third quarter.
Informatica shares rose $1.93, or 4.2 percent, to $47.76 in morning trading Tuesday. Its shares are up more than 27 percent over the past year.