Data Management Tech Provider Informatica Is A Public Company – Once Again

Big data pioneer raises $841 Million In IPO that puts the company’s market value at nearly $8 billion. Shares close first day of trading at $29.

Informatica, a leading developer of cloud data management software, went public Wednesday, selling 29 million shares and raising $841 million. The company’s $29 per share price put the company’s market value at about $7.9 billion.

Informatica’s Class A common stock began trading on the New York Stock under the symbol “INFA” shortly before noon EDT Wednesday, beginning trading at $27.73 per share before closing at $29.00 per share.

The company had priced the shares for $29, according to a company statement on Tuesday. (The company had marketed the shares at a range of $29 to $32 before selling them at the low-end of that range, according to a Bloomberg story.)

[Related: Informatica Offers Partners Faster Development Capabilities, Advanced Training]

Informatica develops a range of software tools for data management, integration, governance, quality and other tasks, running on the company’s flagship Intelligent Data Management Cloud platform.

Founded in 1993, Informatica was in some respects the original Silicon Valley “big data” company. The Redwood City, Calif.-based vendor was a pioneer in the data integration and ETL (extract, transform and load) technology space and held a leadership position in the most recent Gartner Magic Quadrant report on data integration tools.

While Informatica was once a publicly traded company, it was acquired and taken private in 2015 by the Canada Pension Plan Investment Board and private equity firm Permira in a $5.3 billion deal. CRN reported later in 2015 that Microsoft and Salesforce also participated in the deal.

After today’s IPO the Canada Pension Plan Investment Board and Permira remain Informatica’s biggest shareholders, controlling about 88.5 percent of the company, according to the Bloomberg story.

Informatica recorded a net loss of $36.3 million on sales of $675.5 million in the first six months of 2021, according to the company’s S-1 filing with the U.S. Securities and Exchange Commission.