Enterprise software firm Informatica valued at $7.5 bln in stock market return

  • 10/27/2021
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Oct 27 (Reuters) - Shares of Informatica Inc (INFA.N) fell nearly 5% in their stock market return on Wednesday, fetching a valuation of $7.5 billion for the enterprise software firm that was taken private six years ago. Redwood City, California-based Informatica"s shares opened at $27.55. The company sold 29 million shares priced at $29 apiece, at the bottom end of its price range, raising $841 million.Founded in 1993, the company offers subscription-based data management services over the cloud and also helps automate tasks for more than 5,700 active customers, including the U.S. Air Force, automaker Nissan, supermarket chain Kroger and biotech firm Amgen. Informatica was taken private in 2015 for about $5.3 billion, by a consortium that included private equity firm Permira Advisers Ltd and Canada Pension Plan Investment Board.Informatica"s weak start in its second stint as a publicly traded firm further underscores the falling appetite for IPOs, which have globally slowed in the third quarter of 2021 from their frenetic pace in the three months prior. read more Although tech listings remain investor darlings, their valuations have come under increased scrutiny.The U.S. IPO market has had some recent hiccups as well, with NordicTrack-owner iFIT Health & Fitness Inc and Allvue Systems Holdings pulling the plug on their listings earlier this month, citing adverse market conditions. Goldman Sachs & Co and J.P. Morgan are the lead underwriters for the IPO.

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