Analyst Coverage: Daniel Howard
Informatica was founded in 1993 as a services company specialising in helping its customers to migrate to a client/server environment. It was not until 1996 that it introduced its first product, Informatica PowerMart, which was followed by Informatica PowerCenter in 1998. The following year the company floated on NASDAQ but in 2015 the company went through a leveraged buyout whereby Permira and the Canada Pension Plan Investment Board acquired Informatica for a price of $5.3bn. Microsoft and Salesforce were also investors. In the year prior to the acquisition the company had revenues in excess of $1bn and net income of over $100m.
Since going private Informatica has not only been aggressive in introducing new products but has also been transitioning away from an on-premises, traditional licensing model to a more cloud-based subscription-oriented approach. In a number of the markets it serves, Informatica is also having to evolve from a company that traditionally marketed itself to IT and technical departments, to one that is more involved at business levels. This is arguably more difficult to do than a transition to the cloud.
Axon Data Governance became part of the Informatica portfolio when the company acquired the original developer, Diaku, in early 2017. In the time since, Informatica has worked diligently to integrate it with other Informatica products, particularly Informatica Data Quality, Enterprise Data Catalog and Secure@Source.