Good morning, Hubsters! Rafael Canton here with the US edition of the Wire from the New York newsroom.
Let’s survey the technology sector in this edition of the Wire. We’ll begin with an exit. Permira and Canada Pension Plan Investment Board are selling Informatica to Salesforce for about $8 billion. To learn more about the exit, I spoke with Ryan Lanpher at Permira about the deal.
Then, we’ll stay in the tech sector, with a look at deals that have recently happened in hospitality and tourism technology. One recent deal from earlier this week was PSG selling its minority stake in SevenRooms, a New York-based hospitality software company, to DoorDash, with the company valued at$1.2 billion. We’ll dive into the activity in the subsector.
Lever of growth
AI was at the center of investment firm Permira’s growth strategy for software developer Informatica.
In May, Permira and Canada Pension Plan Investment Board said they were selling Informatica to Salesforce for $8 billion in equity value, net of Salesforce’s current investment in Informatica. The deal is expected to close in early 2026.
To learn more about the deal, I reached out to Ryan Lanpher, partner and co-head of technology at Permira.
Subscribe to the premium version of the Wire to learn more about the exit.
Modern travel
A deal that caught my eye this week was in the hospitality and travel tech subsector. PSG sold its minority stake in SevenRooms, a New York-based hospitality software company, to DoorDash. The deal was part of DoorDash buying SevenRoomsfor $1.2 billion.
In May, PE Hub reporter Sophie Rose highlighted six hospitality and travel tech deals. PE firms such as Main Capital Partners and Mainsail Partners have made deals in the subsector. In March, PE Hub editor Craig McGlashan wrote about how private equity firms are finding tech companies that are modernizing the hospitality industry through strategies such as AI. That’s creating new opportunities for investment.
In April, TPG acquired Sabre’s hospitality solutions business (also known as SynXis) for $1.1 billion. In May, I caught up with TPG partner Tim Millikin, who co-leads the firm’s software and enterprise technology investing efforts, about the Sabre deal as well as the firm’s take-private acquisition of Avidxchange.
Subscribers to the premium version of the Wire can see what types of deals are being made and PE’s interest in the subsectors of hospitality and travel tech.
That’s it for me. If you have any questions, thoughts, or want to chat about deals in the tech, consumer or sports sectors, please email me at [email protected]
Nina Lindholm will write to you tomorrow from London with a special combined Europe and US Wire, as the New York office is closed for Juneteenth.
Cheers,
Rafael
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