Informatica said Friday that it plans to acquire Scotts Valley, Calif.-based Striva for $62 million in cash and stock.
For the past two years, Informatica has bundled Striva's mainframe integration technology with its data integration and business
intelligence software.
This acquisition will allow Informatica to more effectively meet the data delivery demands of the largest enterprise customers
and government agencies, the company said in a statement.
The deal, subject to regulatory approval, is expected to close by the end of the year.
"This is a great day for Informatica. We're very excited," said Sanjay Poonen, senior vice president of worldwide marketing
at Redwood City, Calif.-based Informatica.
Poonen said the deal was important because accessing data on the mainframe is difficult and complex.
He said that although most people thought the mainframe was dead, companies are investing in mainframes because of homeland
security, fraud detection and disaster recovery requirements. But accessing those mainframes has always been tough, he said.
"We just announced our intention to acquire the gold-standard technology in that area," Poonen said.
He said 90 percent of Fortune 1,000 companies have mainframes, and 70 percent of corporate data is on the mainframe.
"We want to make that mainframe data mainstream," he said. "We believe this gives us a significant competitive advantage,
and it also takes the two-year partnership we've had with these folks to the next level."
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