Cash-and-stock deal valued at about $62 million.
Data integration and business intelligence software developer Informatica Corp. announced today its intent to acquire Striva Corp., which provides mainframe integration software.
Informatica, of Redwood City, Calif., has had an OEM relationship with Striva, of Scotts Valley, Calif., for the past two years. Informaticas PowerConnect suite of software includes Strivas mainframe software for high-speed bulk data movement and real-time change capture.
Under the terms of the agreement, Informatica will acquire Striva in a cash-and-stock deal valued at about $62 million.
The acquisition has already been approved by both companies board of directors, and subject to regulatory approval, Informatica expects the deal to close in the latter half of 2004.
The combination of Informaticas adaptive data integration platform and business intelligence software from Strivas mainframe integration technology will help companies more easily access massive amounts of enterprise data on mainframes, said Geuray Dhillon, president and CEO of Informatica in a statement.
The idea is that by offering Strivas software for change data capture along with real-time and bulk movement, Informatica will have the ability to provide mainframe data propagation through intelligent agents that do not require a whole lot of IT resources, officials said.
Mainframe data propagation gives users the ability to choose between batch, on-demand or real-time replication for data delivery.