Enterprise data management company Informatica is not currently in talks to be acquired, the company said Monday, after earlier reports suggested that Salesforce was interested in a roughly $10 billion deal.
Informatica shares slumped more than 7% on the news, while Salesforce shares rose around 1%.
The acquisition would have been Salesforce's largest since the 2021 deal to purchase Slack.
Salesforce's investors also reacted negatively to the idea of the deal, sending shares down more than 7% when news of the potential purchase first broke.
Salesforce CEO Marc Benioff's voracious appetite for mergers and acquisitions was one of the factors that drew a flurry of activists in 2023 seeking to rein in the company's spending.
Persons:
Salesforce, Slack, Amit Walia, Marc Benioff's
Organizations:
Informatica, Street