One of San Francisco’s flagship companies is getting even more massive. Salesforce announced Tuesday that it has officially agreed to purchase Informatica, a Redwood City-based data management company, for a whopping $8 billion.
The Bay Area companies — and competitors, as Informatica makes some similar products to Salesforce’s MuleSoft — announced the acquisition agreement in a joint press release. The proposal is still subject to regulatory approval, but Informatica’s stock price jumped toward the deal’s $25-a-share value on Tuesday morning.
Neither Salesforce nor Informatica sells directly to everyday people, but their technologies undergird swaths of the modern business world. Salesforce sells CRM, or customer relationship management, a category that includes tools for handling sales, marketing, IT and data. Informatica will likely bolster that final offering with its data management services — the company already touts more than 80 clients in the Fortune 100…