Leadership changes in Informatica

BANGALORE, INDIA: Informatica promoted its chief product officer Anil Chakravarthy as the acting chief executive officer of the company today. Sohaib Abbasi, chairman and former chief executive officer, will continue to serve as chairman of Informatica.

Among the other leadership changes, Bruce Chizen, former chief executive officer of Adobe, has joined Informatica as a board member and as a special advisor to Informatica.

“It is a privilege to lead the world-class Informatica team in this promising new phase of growth as a private company,” said Anil Chakravarthy, acting chief executive officer, Informatica.

“Our transformative innovation roadmap includes four distinct billion-dollar opportunities: cloud integration, next generation big data integration, MDM solutions and data security. And living our customer-first culture, we will evolve our business model to match customers’ preferences for pay-for-use subscription offerings.”

Informatica today announced the successful completion of its acquisition by a company controlled by the Permira funds and Canada Pension Plan Investment Board (CPPIB). The acquisition is valued at approximately $5.3 billion. Microsoft Corporation and Salesforce Ventures have agreed to become strategic investors in the company alongside the Permira funds and CPPIB.