Dive Brief:
- Informatica LLC announced its new leadership team, including Anil Chakravarthy as chief executive and Bruce Chizen, a former Adobe Systems Inc. chief executive, as executive chairman.
- Informatica was taken private in a 2015 deal worth $5.3 billion.
- The company is a key competitor in the emerging big data landscape.
Dive Insight:
Informatica was acquired by Permira Advisers LLC and the Canada Pension Plan Investment Board. Microsoft Corp. and Salesforce.com Inc. later joined, taking unspecified minority stakes in the company.
Chakravarthy has served as acting chief executive since August, when the buyout was complete.
Informatica plans to shift “more of its business from outright software sales to cloud services that are sold on a subscription basis,” Chakravarthy said.
Informatica had revenue of about $1 billion and grew 11% last year. Analysts say Informatica’s strong growth proves there is growing demand among businesses for its services, which help companies organize and analyze big data.
“We are basically the data plumbers,” said Chakravarthy.
