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(Sharecast News) - Takeover talks between enterprise tech giant Salesforce and smaller sector peer Infomatica have fallen through, according to reports, after the software companies failed to agree on a price.
According to the Wall Street Journal and Reuters on Monday, disagreements over the terms of a deal saw Salesforce abandon its pursuit of enterprise cloud data management and data integration firm, despite discussions being said to have been at an advanced stage earlier this month.
Informatica shares were trading close to record highs at $39.80 when news of the deal talks broke on 11 April - up from the $26 level seen at the start of 2024.
Based on Friday's closing price of $35.19, Informatica has a market value of $11.2bn, with the stock having nearly doubled over the past year on the back of the roll-out of a number of artificial intelligence product releases.
However, according to the Wall Street Journal, Salesforce had been looking at a price around the mid-$30s mark.
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