Permira-Backed Technology Company Informatica Files for IPO

(Bloomberg) -- Technology company Informatica Inc., which is backed by Permira and Canada Pension Plan Investment Board, has filed for an initial public offering.

The company disclosed its financials in a registration statement with the U.S. Securities and Exchange Commission Friday. It said it would raise $100 million in an offering, a placeholder figure that will likely change. 

The company could be valued at around $10 billion in the listing, according to a person familiar with the matter who asked not to be identified because the matter is private. 

A representative for Informatica declined to comment. 

That would be about double the $5.3 billion value it went private at in 2015.

The company said in the filing that since going private, it shifted its business model from on-premise, meaning it delivered software that resided in clients’ computer servers, to cloud-based, which is delivered over the internet.

Informatica’s revenue rose to $324.2 million in the first half from $259.5 million in the same period last year. Its net loss narrowed to $24.4 million from $124.5 million. 

The company is planning to list on the New York Stock Exchange under the symbol INFA. 

The offering its being underwritten by banks including Goldman Sachs Group Inc., JPMorgan Chase & Co., Bank of America and Citigroup Inc.

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