Salesforce Inc (NYSE:CRM, ETR:FOO) shares fell 2.6% in pre-market trading after reports that it is in talks to buy cloud-data firm Informatica.
Discussions between the two New York Stock Exchange-listed companies are at an advanced stage, the Wall Street Journal reported on Friday after hours.
Informatica stock has soared 139% over the past 12 months, with takeover speculation playing a part. At the last close price of $38.48, it had a market cap of just over $11 billion.
As a provider of cloud services to corporates, Informatica competes against Salesforce’s 2018 acquisition of MuleSoft.
"We believe a hypothetical acquisition would complement MuleSoft and expand Salesforce's data management capabilities," said analysts at Jefferies. "It would also unlock the data cloud and artificial intelligence opportunity."