Informatica Corp. has agreed to buy Identity Systems Inc., a Nokia Corp. subsidiary specializing in identity resolution...
By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.
software, for $85 million.
Identity Systems' technology will allow Informatica customers to search multiple types of data in real time to match and resolve identity discrepancies, the company said in a statement.
"The combination of Identity Systems and Informatica will offer the most advanced data quality products," said Sohaib Abbasi, Informatica's chairman and CEO.
The announcement came as Informatica released its first-quarter earnings. The Redwood City, Calif.-based data integration vendor reported revenues of $103.7 million, up 19% from the same period last year. Informatica shares were up 2.41%, to $16.56, as of 10 a.m. EST today.
The all-cash deal is expected to close at the end of May 2008.