What is the business transformation currently underway at Informatica? When we were taken private in 2015, we were a traditional software vendor, but the market was starting to embrace the cloud. Many of our customers had already started to move their applications and it made sense they would want to transition to data management in the cloud as well. The investment thesis was we could dramatically change the value of the company by becoming a true cloud and subscription-driven company. The business transformation we’ve led for the last several years has many parts; all our products have been …