Salesforce has announced a deal to acquire data management firm Informatica for approximately $8 billion, marking its biggest acquisition since purchasing Slack in 2021 for $27.7 billion.

The all-cash offer of $25 per share represents a 30% premium over Informatica’s recent trading price, according to a Reuters report. The deal is expected to close by early 2026 and will be financed through a mix of cash reserves and new debt.

The move signals a return to large-scale acquisitions for Salesforce following a period of restraint under pressure from activist investors, including Elliott Management, to improve profitability.

Informatica reportedly drew interest from at least five suitors, including private equity giant Thoma Bravo, before Salesforce secured the agreement.

“This creates the most complete, agent-ready data platform,” said CEO Marc Benioff, highlighting the synergy between Informatica’s data tools and Salesforce’s expanding suite of AI products, such as Agentforce, which automates tasks like recruiting and customer support.

Analysts say the acquisition bolsters Salesforce’s efforts to compete in the AI space by deepening its enterprise data capabilities, a key component in training and deploying AI systems.

Salesforce expects the deal to begin improving its operating margins by the second-year post-acquisition, amid broader efforts to balance growth with profitability. While past takeovers like Tableau and Slack drew scrutiny over costs, the Informatica deal is seen as a strategic step toward solidifying Salesforce’s AI-driven future.