Good morning, CFOs. Salesforce strikes a big deal for data-management software firm Informatica; Trump’s media company plans to raise about $2.5 billion from institutional investors to buy bitcoin; plus, U.S. durable goods orders tumble.

Salesforce struck a roughly $8 billion deal for data-management software firm Informatica, in a bid to bolster its capabilities in the arms race to put artificial intelligence to work.

Salesforce agreed to pay $25 a share for Informatica, the companies announced Tuesday, confirming an earlier report from The Wall Street Journal.

The process was competitive, with Salesforce beating out multiple other strategic and private-equity suitors, including Cloud Software Group (formerly Citrix Systems) and Thoma Bravo, according to people familiar with the matter.

The Journal reported Friday that Salesforce and Informatica were discussing a deal after talks fizzled in 2024.

• Heard Column: Salesforce Deal Buys It Some Time in AI Race

📆 Earnings

• Abercrombie & Fitch
• Dick’s Sporting Goods
• HP Inc.
• Macy’s
• Nvidia
• Salesforce

📈 Economic Indicators

The Federal Open Market Committee releases the minutes from its early-May monetary-policy meeting.

President Trump’s media company plans to raise about $2.5 billion from institutional investors to buy bitcoin, the latest entanglement of his private business ventures and the cryptocurrency markets.

Trump Media & Technology Group said Tuesday it planned to sell $1.5 billion of the company’s stock and $1 billion in convertible debt to about 50 institutional investors. The company said the investment closes its strategic acquisition fund created to buy, merge or join companies that align with the president’s “America First” policies.

The company, which operates the president’s Truth Social platform, plans to use the funding to create a treasury that will hold bitcoin. Trump Media said Crypto.com and Anchorage Digital will provide custody of the bitcoin treasury.

“We view bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” Trump Media Chief Executive Devin Nunes said.
 

• Easing trade tensions boosted optimism on Wall Street Tuesday, just days after the S&P 500 finished its worst week since the original Trump tariff announcements in early April.

📰 Other headlines

• U.S. Durable Goods Orders Tumble on Lower Aircraft Demand
• Consumer Confidence Rebounds After U.S.-China Trade Truce
• Temu Owner PDD’s Profit Slides as Woes in the U.S. and China Sink In
• Exclusive: Southwest Airlines Sets Fee for First Checked Bag at $35
• Luxury Brands Are Paying for Over-the-Top Price Hikes
• Honeywell to Add Elliott Executive to Its Board Ahead of Breakup
• Wall Street Bets the Worst of Trump’s Trade War Is Behind It

Littelfuse, the Rosemont, Ill.-based electronics manufacturing company, hired Abhi Khandelwal as its new top finance officer. Khandelwal, who joins the company as executive vice president and CFO on June 18, most recently held the same post at industrial manufacturer IDEX, which announced his pending departure last week. Khandelwal will receive an initial base salary of $650,000 a year, a $250,000 cash sign-on bonus and an annual bonus with a target of 85% of his base pay. Littelfuse in April said Meenal Sethna would be stepping down after roughly nine years as CFO but stay with the company through Sept. 1 to assist with the transition.

—Colin Kellaher contributed to today’s Ledger.

The Wall Street Journal's CFO Journal offers corporate leaders and professionals CFO analysis, advice and commentary to make informed decisions. We cover topics including corporate tax, accounting, regulation, capital markets, management and strategy.

Follow us on X @WSJCFO. The WSJ CFO Journal Team comprises reporters Kristin Broughton, Mark Maurer and Jennifer Williams, and Bureau Chief Walden Siew.

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