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Home Uncategorized Cloud-based data analytics: KKR, CD&R to take Cloudera private for $4.7 billion

Cloud-based data analytics: KKR, CD&R to take Cloudera private for $4.7 billion

Amazon.com Inc., Alphabet Inc’s Google and Microsoft Corp have been pushing to provide products similar to ones offered by the cloud-based data analytics firm because of an uptick in demand for cloud-based services since the pandemic last year

Private equity firms – KKR & Co. and Clayton Dubilier & Rice LLC (CD&R) will take Cloudera Inc. private for $4.7 billion, the cloud-based data analytics company – Cloudera said on Tuesday.

To Cloudera’s last close on Friday, the $16 per share cash offer represents a premium of over 24 per cent, the cloud-based data analytics company said in a regulatory filing.

Cloudera caters to industries including finance, healthcare and government agencies by providing cloud-based software and platform to enterprises for data management and insights generation.

Major cloud services providers including Amazon.com Inc., Alphabet Inc’s Google and Microsoft Corp have been pushing to provide products similar to ones offered by the cloud-based data analytics firm because of an uptick in demand for cloud-based services since the pandemic last year.

Bloomberg Law reported in June that after getting takeover interest, the cloud-based data analytics firm has been exploring a sale.

Activist investor Carl Icahn holds about 17.8 per cent 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 per cent to $15.98 in premarket trading.

Also read:DigiYatra: A paperless journey experience for domestic air travellers

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khushbu
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

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