Investing.com – Salesforce Inc (NYSE:) failed to reach an agreement to take over the data management software company. Informatics Inc. (NYSE:) after they failed to agree on a price, reports from the Wall Street Journal and Reuters showed on Sunday.
The Wall Street Journal reported Sunday that they were unable to reach an agreement due to disagreements over the terms of the deal. A Reuters report said they were unable to agree on a takeover price.
The reports come after news emerged earlier in April that enterprise software developer Salesforce was in talks to acquire Informatica – a deal that could rank among Salesforce’s biggest acquisitions in recent years after the firm acquired the messaging app in the workplace Slack Technologies (NYSE:) $28 billion in 2021.
As of April 19, Informatica’s market capital is $12.09 billion. The company’s value has more than doubled in the past year after it introduced a host of artificial intelligence tools into its enterprise software products.
Saleforce shares are also up 33% over the past six months as the company has incorporated artificial intelligence into its own products. Acquiring Informatica would allow Salesforce to consolidate Informatica’s offerings into its own suite of products and would also give Salesforce access to Informatica’s large pool of customers, which includes consumer products giant Unilever PLC (NYSE:), a major automaker. Toyota (NYSE:) Automotive (TYO:) major and accounting firm Deloitte.
Salesforce and Informatica’s stock prices fell in response to initial takeover reports.