Latest news with #AdityaSoni
Time of India
28-05-2025
- Business
- Time of India
Salesforce to buy Informatica for $8 billion to bolster AI data tools
By Aditya Soni Salesforce said on Tuesday it would buy Informatica for about $8 billion, betting on the data management platform to sharpen its competitive edge in the booming artificial intelligence market. The cloud-software giant is returning to big-ticket M&A after years on the sidelines, driven by scrutiny from activist investors pressing for better profitability. It had last year shelved deal talks with Informatica after the companies failed to agree on deal terms. Buying Informatica, in its biggest deal since its nearly $28 billion acquisition of Slack Technologies in 2021, would help Salesforce expand its data management tools as it doubles down on AI-powered products. The deal would also allow Salesforce to tighten control over how business data is managed and used, an essential step as it races to embed generative AI deeper into its products. "Salesforce and Informatica will create the most complete, agent-ready data platform in the industry," said Salesforce CEO Marc Benioff , adding the deal will strengthen its position in the $150 billion-plus data enterprise market. The company has been offering AI agents - programs that can handle routine work without human supervision - to businesses for recruiting and customer service. It has closed more than 1,000 paid deals for "Agentforce", its platform for creating AI-powered virtual representatives. Salesforce is paying $25 for each share of Informatica, a premium of about 30% to Informatica's closing price on May 22, the day before news of renewed talks emerged. Informatica shares were 5.8% higher in premarket trading at $23.86, while Salesforce was up 1.2%. Salesforce expects to close the deal in early next fiscal year starting February through a mix of cash and new debt. The deal is expected to boost its operating margin from the second year after closing. Scotiabank analysts said the move could help Salesforce catch-up with software rivals as "data management software is now most often sold as part of mega-vendor tool kits". The business software company has been a prolific dealmaker, buying data analytics firm Tableau Software in 2019 for $15.7 billion in stock, and Slack in 2021 in its biggest deal. Those deals drew scrutiny in 2023 when activist investors, including ValueAct Capital and Elliott Management, pressed for changes to improve profitability.
Time of India
28-05-2025
- Business
- Time of India
Salesforce to buy Informatica for $8 billion to bolster AI data tools
By Aditya Soni Salesforce said on Tuesday it would buy Informatica for about $8 billion, betting on the data management platform to sharpen its competitive edge in the booming artificial intelligence market. The cloud-software giant is returning to big-ticket M&A after years on the sidelines, driven by scrutiny from activist investors pressing for better profitability. It had last year shelved deal talks with Informatica after the companies failed to agree on deal terms. Buying Informatica, in its biggest deal since its nearly $28 billion acquisition of Slack Technologies in 2021, would help Salesforce expand its data management tools as it doubles down on AI-powered products. The deal would also allow Salesforce to tighten control over how business data is managed and used, an essential step as it races to embed generative AI deeper into its products. "Salesforce and Informatica will create the most complete, agent-ready data platform in the industry," said Salesforce CEO Marc Benioff , adding the deal will strengthen its position in the $150 billion-plus data enterprise market. The company has been offering AI agents - programs that can handle routine work without human supervision - to businesses for recruiting and customer service. It has closed more than 1,000 paid deals for "Agentforce", its platform for creating AI-powered virtual representatives. Salesforce is paying $25 for each share of Informatica, a premium of about 30% to Informatica's closing price on May 22, the day before news of renewed talks emerged. Informatica shares were 5.8% higher in premarket trading at $23.86, while Salesforce was up 1.2%. Salesforce expects to close the deal in early next fiscal year starting February through a mix of cash and new debt. The deal is expected to boost its operating margin from the second year after closing. Scotiabank analysts said the move could help Salesforce catch-up with software rivals as "data management software is now most often sold as part of mega-vendor tool kits". The business software company has been a prolific dealmaker, buying data analytics firm Tableau Software in 2019 for $15.7 billion in stock, and Slack in 2021 in its biggest deal. Those deals drew scrutiny in 2023 when activist investors, including ValueAct Capital and Elliott Management, pressed for changes to improve profitability.
The Star
27-05-2025
- Business
- The Star
Salesforce nears $8 billion deal for Informatica, WSJ reports
A logo of Salesforce is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo (Reuters) -Salesforce is nearing a roughly $8 billion deal for data-management software firm Informatica, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The cloud-software giant is expected to pay $25 per share for Informatica, in a deal set to be announced later in the day, the report said. Salesforce and Informatica did not immediately respond to Reuters' requests for comment. Informatica shares jumped 7% to $24.1 in premarket trading, while Salesforce stock was up 1.6%. Informatica is exploring a sale after attracting renewed takeover interest from suitors, including Salesforce, a person familiar with the matter told Reuters on Friday. Salesforce and Informatica abandoned their advanced talks for a deal in April 2024 after failing to agree on the terms. (Reporting by Aditya Soni in Bengaluru; Editing by Leroy Leo)
Business Upturn
05-05-2025
- Business
- Business Upturn
Fibe, CheQ collaborate to expand credit access and ensure responsible credit behaviour
MUMBAI, India , May 5, 2025 /PRNewswire/ — Fibe India's leading fintech, Fibe (formerly EarlySalary), has announced a strategic partnership with CheQ, a fast-growing credit management and bill payments platform. This partnership aims to expand access to flexible credit solutions for borrowers. Through this collaboration, Fibe's range of credit offerings will now be available on the CheQ platform, allowing users to discover and access credit solutions directly within the app. Fibe's products are designed for today's digitally savvy consumers, offering quick approvals, fully digital processing, and flexible repayment options to meet varied financial needs. As part of the partnership, CheQ customers will also benefit from real-time credit and loan solutions from Fibe, making credit more convenient and affordable. The collaboration reinforces both companies' commitment to improving financial wellness and promoting responsible credit behavior among young professionals. It will also enable enhanced customer engagement through real-time credit tracking, smart payment reminders, and curated financial offers. Akshay Mehrotra , Co-Founder and CEO of Fibe, said, 'At Fibe, our focus has always been on creating a simple, transparent, and flexible borrowing experience. Through this partnership with CheQ, we are expanding the accessibility of our credit solutions and offering customers greater control over how they manage their financial needs. We believe this collaboration will help first-time borrowers take confident steps towards building a strong financial future.' 'At CheQ, we are committed to simplifying how India engages with credit. Our partnership with Fibe strengthens this mission by offering users easy access to credit solutions and seamless repayment options within the CheQ app. Together, we aim to empower borrowers with greater financial flexibility and help them build a strong credit profile early in their financial journey,' said Aditya Soni , CEO & Founder of CheQ. About Fibe Fibe is one of India's leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group and the underserved segments to fulfil their financial aspirations. Fibe offers a range of financial products, including cash loans, long-term personal Loans, and Impact loans for sectors like healthcare and education, making affordability more accessible. Fibe offers instant approvals and quick disbursals. Fibe's Tech Arm Social Worth Technologies Private Limited has partnered with Axis Bank to offer a secure, numberless credit card ensuring seamless user experience. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income and underserved groups in India . Due to its scalable business model, Fibe has recently been upgraded to A- by CARE Ratings and has access to debt lines from leading banks, NBFCs and wholesale debt markets. It has been certified with ISO/IEC 27001 for its Information Security Management System (ISMS). Fibe has disbursed more than 7 million+ loans worth Rs. 26,000 Cr+ since inception through its lending partners. Winner of BW Festival of Fintech Lending Platform of the Year (Gold) and Fintech Brand of the Year (Silver) ET Healthcare Awards 2024 – Excellence in Affordable Healthcare Financing Entrepreneur 2024 Founder Of The Year & Best Innovation in Financial Services Winner of G20 Digital Innovation Alliance – Best Startup in Fintech About CheQ Launched in 2022, CheQ has quickly emerged as India's leading 360-degree credit management platform, redefining how millions of Indians manage and pay their credit card bills. In just a short span, CheQ has built a thriving community of over 3.5 million users and has facilitated over ₹5 billion in transactions to date. What sets CheQ apart is its full-stack offering. In addition to the most rewarding credit card bill payments, CheQ offers a suite of services designed to simplify and enhance credit management: CheQ Wisor – India's first AI-powered assistant for credit card queries first AI-powered assistant for credit card queries Utility Bill Payments – Users can seamlessly pay their electricity, water, FASTag and mobile recharge bills while redeeming CheQ Chips for instant cash discounts. CheQ Instant Cash – Seamless access to personal loans Loan Against Mutual Funds – Instant liquidity without the need for liquidation Credit Dashboard – Real-time insights into your credit health CheQ Wallet – Smart digital wallet designed to help you get more out of your credit card. Insurance & Cyber Protection – Integrated coverage against credit and UPI frauds. With a strong focus on user experience and smart credit enablement, CheQ is empowering users across India to take control of their credit with more rewards, less hassle and smarter features every day. Logo: View original content: Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.
Malaysian Reserve
05-05-2025
- Business
- Malaysian Reserve
Fibe, CheQ collaborate to expand credit access and ensure responsible credit behaviour
MUMBAI, India, May 5, 2025 /PRNewswire/ — Fibe India's leading fintech, Fibe (formerly EarlySalary), has announced a strategic partnership with CheQ, a fast-growing credit management and bill payments platform. This partnership aims to expand access to flexible credit solutions for borrowers. Through this collaboration, Fibe's range of credit offerings will now be available on the CheQ platform, allowing users to discover and access credit solutions directly within the app. Fibe's products are designed for today's digitally savvy consumers, offering quick approvals, fully digital processing, and flexible repayment options to meet varied financial needs. As part of the partnership, CheQ customers will also benefit from real-time credit and loan solutions from Fibe, making credit more convenient and affordable. The collaboration reinforces both companies' commitment to improving financial wellness and promoting responsible credit behavior among young professionals. It will also enable enhanced customer engagement through real-time credit tracking, smart payment reminders, and curated financial offers. Akshay Mehrotra, Co-Founder and CEO of Fibe, said, 'At Fibe, our focus has always been on creating a simple, transparent, and flexible borrowing experience. Through this partnership with CheQ, we are expanding the accessibility of our credit solutions and offering customers greater control over how they manage their financial needs. We believe this collaboration will help first-time borrowers take confident steps towards building a strong financial future.' 'At CheQ, we are committed to simplifying how India engages with credit. Our partnership with Fibe strengthens this mission by offering users easy access to credit solutions and seamless repayment options within the CheQ app. Together, we aim to empower borrowers with greater financial flexibility and help them build a strong credit profile early in their financial journey,' said Aditya Soni, CEO & Founder of CheQ. About Fibe Fibe is one of India's leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group and the underserved segments to fulfil their financial aspirations. Fibe offers a range of financial products, including cash loans, long-term personal Loans, and Impact loans for sectors like healthcare and education, making affordability more accessible. Fibe offers instant approvals and quick disbursals. Fibe's Tech Arm Social Worth Technologies Private Limited has partnered with Axis Bank to offer a secure, numberless credit card ensuring seamless user experience. Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income and underserved groups in India. Due to its scalable business model, Fibe has recently been upgraded to A- by CARE Ratings and has access to debt lines from leading banks, NBFCs and wholesale debt markets. It has been certified with ISO/IEC 27001 for its Information Security Management System (ISMS). Fibe has disbursed more than 7 million+ loans worth Rs. 26,000 Cr+ since inception through its lending partners. Winner of BW Festival of Fintech Lending Platform of the Year (Gold) and Fintech Brand of the Year (Silver) ET Healthcare Awards 2024 – Excellence in Affordable Healthcare Financing Entrepreneur 2024 Founder Of The Year & Best Innovation in Financial Services Winner of G20 Digital Innovation Alliance – Best Startup in Fintech About CheQ Launched in 2022, CheQ has quickly emerged as India's leading 360-degree credit management platform, redefining how millions of Indians manage and pay their credit card bills. In just a short span, CheQ has built a thriving community of over 3.5 million users and has facilitated over ₹5 billion in transactions to date. What sets CheQ apart is its full-stack offering. In addition to the most rewarding credit card bill payments, CheQ offers a suite of services designed to simplify and enhance credit management: CheQ Wisor – India's first AI-powered assistant for credit card queries Utility Bill Payments – Users can seamlessly pay their electricity, water, FASTag and mobile recharge bills while redeeming CheQ Chips for instant cash discounts. CheQ Instant Cash – Seamless access to personal loans Loan Against Mutual Funds – Instant liquidity without the need for liquidation Credit Dashboard – Real-time insights into your credit health CheQ Wallet – Smart digital wallet designed to help you get more out of your credit card. Insurance & Cyber Protection – Integrated coverage against credit and UPI frauds. With a strong focus on user experience and smart credit enablement, CheQ is empowering users across India to take control of their credit with more rewards, less hassle and smarter features every day. Logo: View original content:
