Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo
Private equity firms KKR & Co (KKR.N) and Clayton Dubilier & Rice LLC (CD&R) will take Cloudera Inc (CLDR.N) private for $4.7billion, the cloud-based data analytics company said on Tuesday.
The $16 per share cash offer represents a premium of over 24% to Cloudera’s last close on Friday, the company said in a regulatory filing. (https://bit.ly/2Tzxyun)
Cloudera, which provides cloud-based software and platform to enterprises for data management and insights generation, caters to industries including finance, healthcare and government agencies.
With an uptick in demand for cloud-based services since the pandemic last year, major cloud services providers including Amazon.com Inc (AMZN.O), Alphabet Inc’s (GOOGL.O) Google and Microsoft Corp (MSFT.O) have been pushing to provide products similar to ones offered by Cloudera.
Bloomberg Law reported in June that Cloudera has been exploring a sale after getting takeover interest.
Activist investor Carl Icahn holds about 17.8% of Cloudera’s total shares and is its largest investor, according to Refinitiv data.
The deal, expected to close in the second half of this year, includes a 30-day “go-shop” period, which allows the company to consider alternative offers, Cloudera said.
Shares of Cloudera jumped more than 24% to $15.98 in premarket trading.
Our Standards: The Thomson Reuters Trust Principles.
Century Tower completes handovers two months ahead of schedule in Business Bay as wider delay…
Keturah founder pinpoints critical shifts that will transform the property landscape in 2026 Dubai, UAE,…
South Asia’s definitive thought leadership dialogue, The Times Group’s ET NOW Global Business Summit 2026…
M&D has appointed industry veteran Tom Rizzi as Chief Executive Officer effective January 1, 2026
A striking new architectural landmark has entered the luxury market at 1140 Summit Drive in…
Three Group Solutions has completed the deployment of a private 5G network across key Hutchison…