Enterprise software developer Informatica Inc on Friday filed for an initial public offering in the United States, paving the way for a return to the public markets more than six years after being taken private in a $5.3 billion deal.
The Redwood City, California-based company, which follows a subscriptions-based model, was taken private by a consortium that included private equity firm Permira Advisers Ltd and Canada Pension Plan Investment Board (CPPIB).
Informatica, which will list on the New York Stock Exchange, recorded a 1% jump in revenue to nearly $1.32 billion in 2020. Net loss last year narrowed to $168 million from $183 million a year earlier.
The IPO is being led by a syndicate of banks headed by Goldman Sachs & Co and J.P. Morgan.