Permira-Backed Technology Company Informatica Files for IPO

Crystal Tse and Liana Baker, Bloomberg News

American flags outside the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Jan. 4, 2021. In a historic year that marked a rapid plunge into bear market territory and a swift recovery into the bull zone, high-flying technology stocks and electric-vehicle pioneer Tesla Inc. were standout trades. Photographer: Michael Nagle/Bloomberg , Bloomberg

(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.