Informatica Jumps After Activist Paul Singer Reveals An 8.8% Stake

Informatica Corporation INFA gained nearly 8 percent on Monday after a hedge fund boosted its stake to 8.8 percent. The fund also said it might propose a sale of the company.

Elliott Associates, headed by Paul E. Singer revealed the stake in a 13D filing.

The Redwood City, California-based software services company's shares changed hands recently at $40.46, up $2.03.

Elliott said that although it currently has no specific plans, it may make proposals in the future concerning the company's ownership, operations, management and board composition.

Singer's Elliott recently helped to push Riverbed Technology, Inc. RVBD to sell itself to a private equity fund. The firm has had similar success in activist campaigns at BMC Software Inc. BMC and Novell Inc.

Singer has been critical of the Federal Reserve, and also recently made headlines with a suggestion that higher prices for East Hampton real estate and blue-chip art may be a harbinger of hyperinflation.