Canada Pension Plan Investment Board, Toronto, and private equity firm Permira on Tuesday announced they agreed to acquire data software provider Informatica for $5.3 billion.
Under the terms of the agreement, Informatica shareholders will receive $48.75 in cash for each share of common stock from Permira and the C$238.8 billion ($191 billion) CPPIB. Informatica shares closed at $47.79 Tuesday.
Details of the board's and Permira's ownership stakes were not disclosed, nor was information about how much each paid in the transaction, said Mei Mavin, CPPIB spokeswoman.
Bank of America Merrill Lynch, Goldman Sachs, Macquarie Capital and Union Square Advisors were financial advisers to Permira and CPPIB. Qatalyst Partners was financial adviser to Informatica. The acquisition is expected to close by the third quarter pending regulatory approval.
The deal is the latest alternatives-related acquisition for the CPP Investment Board. On March 31, the board and Hermes Infrastructure agreed to acquire a minimum 30% stake in Associated British Ports for £1.6 billion ($2.39 billion); and on March 6, the board announced it acquired Liberty Living, a U.K. student residential portfolio, from Brandeaux Student Accommodation Fund for £1.1 billion.
CPP Investment Board had C$66 billion in private investments as of Dec. 31, including C$44.3 billion in private equity.