Santa Clara’s Cloudera to go private in $4.7 billion KKR, CD&R deal

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Santa Clara’s Cloudera to go private in $4.7 billion KKR, CD&R deal

New York City-based private equity firms KKR & Co alongside CD&R (Clayton Dubilier & Rice LLC), have been set to take a US-based analytics and machine learning platform Cloudera Inc private in a $4.7 billion all-cash deal, the cloud-based data analytics firm headquartered in Santa Clara, California had unenveloped late on Tuesday.

Besides, following reveal of the Cloudera announcement, shares’ prices of US-listed Cloudera climbed as much as 24 per cent to $15.93 a share on Tuesday and wrapped up Wednesday’s Wall Street at $15.85 per share, close to an all-cash offered price tag of $16 per share.

Apart from that, latest decision from Cloudera Inc to go private in a $4.7 billion all-cash deal came forth as the cloud-based data analytics firm had reported a 7 per cent rise in quarterly revenues to $224.3 million in the latest quarter on a year-on-year basis, while the company’s net loss per share had been contracted to 14 cents.

KKR, CD&R set to take Cloudera private

If truth is to be told, Cloudera Inc., once contemplated as a high-growth firm, had botched to make money and struggled to maintain a persistent growth momentum lately, as its hybrid cloud solutions could barely scratch market shares already occupied by other cloud computing and AI giants, while shares of Cloudera had remained largely underrated since its public market debut back in the 2017s.

Meanwhile, justifying Cloudera Inc’s move to go private, the company’s president, Mick Hollison said in a statement late in the day, “We believe in hybrid cloud and want to continue to invest to expand our offerings.

Being a private company can help us go through the transition more smoothly. Founded back in the 2008s, venture capitalist Carl Icahn-backed Cloudera Inc, employing more than 3,000 workers across the United States, has been providing cloud-based software and machine learning solutions for highly regulated industries likes of Government agencies and financial holdings.