Informatica Corp. said today it will acquire Privitar Ltd., a London-based maker of access controls and remediation for data privacy and security, for an undisclosed amount.

The company said it plans to incorporate Privitar’s technology into its Intelligent Data Management Cloud, a platform for analyzing and managing data across large enterprises. The acquisition is expected to be completed in the third quarter of this year.

Privitar’s software enables businesses to support self-service access to data with collaborative workflows, regulatory controls and cross-platform security enforcement defined by a single policy. It claims to be the first vendor to apply privacy controls within complex data pipelines.

The company provides auditable and compliant access to data assets that conforms to major regulations including the European Union’s General Data Protection Regulation, the California Consumer Privacy Act and Canada’s Personal Information Protection and Electronic Documents Act.

Informatica already provides data privacy and protection capabilities through its cloud data governance, cataloging and cloud data masking services that include policy management, data classification, sensitive data discovery, data lineage for tracking movement, and data masking for risk exposure remediation, a spokesman said. “Privitar brings an additional and complementary level of management granularity through access control definition and policy remediation that deepen Informatica’s abilities to meet today’s modern data governance use cases,” he said.

“Data governance and responsible use of data is a growing priority for large businesses, but too often requires trading off agility and self-service,” Informatica Chief Executive Amit Walia (pictured) said in a statement.

Privitar already has numerous partnerships and a presence on cloud marketplaces. No immediate changes to those arrangements are planned, the spokesman said.  “The long-term opportunity is to provide Privitar’s capabilities through Informatica channels as well,” he said.

For the immediate future, Privitar will remain a standalone product but the long-term plan is to integrate with IDMC, the spokesman said. Pricing has not been determined but the Privitar service will likely carry consumption-based pricing.

Founded in 2014, Privitar raised more than $150 million from 17 investors, the most recent funding round an $87 million Series C in 2020. At that time the company was valued at $400 million. Investors include HSBC Venture Capital Coverage Group, Citi Ventures Inc., Accel Partners LP and Salesforce Ventures LLC.

The downward pressure on valuations created by the broad selloff in tech stocks over the past year has made startups more attractive to well-funded firms such as Informatica, which acquired 15 firms over its history, including metadata management software provider Compact Solutions LLC and machine learning technology provider GreenBay Technologies Inc., both in 2020.

Photo: SiliconAngle