Software development, Salesforce, along with its peer Informatica, on Sunday, backed off their potential agreement of acquisition due to mutual differences in terms and conditions, based on the report of Wall Street Journal.
The firm has not released any official statement specifying the reason behind the breakdown of negotiations. Based on the report of Reuters, the talks between the two companies were at an advanced stage earlier in April.
Earlier this week, Gaurav Dhillon, Chief Executive of software company SnapLogic, in an interview with MarketWatch, voiced concerns about the potential merger and said it is a bad idea.
In January, Financial service provider UnionBank of the Philippines collaborated with Informatica to adapt Informatica’s master data management (MDM) software as a service (SaaS) as UnionBank shifts from an on-premises solution to the cloud as part of the bank’s cloud digital transformation strategy.
California-based Salesforce is a customer relationship management (CRM) platform, which focuses on marketing, sales, commerce and service. The firm specializes in enterprise cloud computing and customer relationship management.
Informatica is a cloud data management firm that was founded in 1993. The Informatica Intelligent Data Management Cloud (IDMC), powered by AI and an end-to-end data management platform that connects, manages and unifies data across virtually any multi-cloud, hybrid system, democratizing data and enabling enterprises to modernize their business strategies.
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