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Informatica Jumps After Activist Paul Singer Reveals An 8.8% Stake

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Informatica Corporation (NASDAQ: 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. (NASDAQ: RVBD) to sell itself to a private equity fund. The firm has had similar success in activist campaigns at BMC Software Inc. (NASDAQ: 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.

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