Espoo, Finland & Redwood City, CA - Nokia and Informatica have signed an agreement for Informatica to acquire Identity Systems, headquartered in Greenwich, CT. Identity Systems became a subsidiary of Nokia in February 2006 as part of Nokia's acquisition of Intellisync. Informatica will acquire all of the capital stock of Identity Systems in a cash transaction valued at approximately USD 85 million.
Identity Systems is a global leader in enterprise software development for identity resolution, providing fast, highly accurate and scalable solutions to profile, cleanse, group, match and consolidate data within computer systems and network databases.
"After thorough consideration Nokia decided that Identity Systems' business has a much bigger potential as part of Informatica since identity resolution is a key part of many data quality and data integration initiatives," said Tom Furlong, SVP, Services & Software, Nokia. "With this transaction, Identity Systems' strong and committed team has the opportunity to expand and grow their already successful business and technology. We see this as a natural evolution to Identity Systems as they have been operating as a very independent business within Nokia."
"We are excited and confident that our innovative solutions, strong talent pool, solid partner ecosystem and global customer base will add to Informatica's existing success in the data quality market. We are pleased and look forward to being part of the leading global independent data integration company," said Sanjay Rao, General Manager of Identity Systems.
"The combination of Identity Systems and Informatica will offer the most advanced data quality products," said Sohaib Abbasi, chairman and CEO, Informatica. "This combination advances our leadership in three ways. First, we will offer our customers additional innovative capabilities for identity search and resolution. Second, it extends our data quality products with differentiated cross-language identity matching capabilities. And third, our customers will benefit from the near-universal access of our leading data integration platform to integrate all their data including identity data. Together, we will further enable organizations to gain a competitive advantage in today's global information economy by empowering them to access, integrate and trust all their information assets."
The transaction is expected to close by the end of May subject to customary conditions, including all required employee consultations.
Nokia is the world leader in mobility, driving the transformation and growth of the converging Internet and communications industries. We make a wide range of mobile devices with services and software that enable people to experience music, navigation, video, television, imaging, games, business mobility and more. Developing and growing our offering of consumer Internet services, as well as our enterprise solutions and software, is a key area of focus. We also provide equipment, solutions and services for communications networks through Nokia Siemens Networks.
Informatica is a leading provider of enterprise data integration software and services. With Informatica, organizations can gain greater business value by integrating all their information assets from across the enterprise. More than 3,000 companies worldwide rely on Informatica to reduce the cost and expedite the time to address data integration needs of any complexity and scale. For more information, call +1 650 385 5000, or visit www.Informatica.com.
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