Informatica, which provides an enterprise cloud data management platform, raised $841 million by offering 29 million shares at $29, the low end of the range of $29 to $32. At pricing, the company commands a market value of $8.3 billion.
Informatica states that it has pioneered a new category of software, the Intelligent Data Management Cloud, an AI-powered platform that connects, manages, and unifies data across any multi-cloud, hybrid system. As of June 30, 2021, the company had approximately 5,700 customers in over 100 countries and territories worldwide, including 9 of the Fortune 10, 84 of the Fortune 100, and 923 of the Global 2000. The company had a subscription net retention rate of 116% for the quarter ended June 30, 2021.
Informatica plans to list on the NYSE under the symbol INFA. Goldman Sachs, J.P. Morgan, Citi, BofA Securities, Credit Suisse, Deutsche Bank, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Nomura Securities, LionTree, and Macquarie Capital acted as lead managers on the deal.
