Cloudera Completes Agreement to Become a Private Company
Cloudera has successfully completed its acquisition by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash deal valued at approximately $5.3 billion.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Cloudera has successfully completed its acquisition by affiliates of Clayton, Dubilier & Rice and KKR in an all-cash deal valued at approximately $5.3 billion. Following the acquisition, Cloudera's common stock will no longer trade on the New York Stock Exchange. CEO Rob Bearden expressed excitement about the company's future as a private entity, emphasizing the potential for enhanced flexibility and resources to drive product innovation and customer growth in a hybrid cloud space.
Positive
- Successful acquisition completed for approximately $5.3 billion.
- Cloudera will benefit from capital support and expertise from CD&R and KKR.
Negative
- Cloudera common stock has ceased trading and is no longer listed on the NYSE.
Details
News Market Reaction – KKR
The recorded move for KKR in the trading session of this news was +3.36%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SANTA CLARA, Calif., Oct. 8, 2021 /PRNewswire/ -- Cloudera, the enterprise data cloud company, today announced the successful completion of its previously announced agreement to be acquired by affiliates of Clayton, Dubilier & Rice ("CD&R") and KKR in an all cash transaction valued at approximately
Cloudera delivers a hybrid cloud platform that enables enterprises to access and analyze data across public and private clouds as well as on premises to deliver flexibility, performance, speed and control. Cloudera will continue to be led by CEO Rob Bearden.
"Today marks an exciting new chapter in our company's future," said Mr. Bearden. "As a private company, we will have the agility and resources to meet the needs of businesses today in a hybrid world. With the capital support and expertise of CD&R and KKR, we will be focusing on accelerating our product innovation, cloud transformation and customer growth."
About Cloudera
At Cloudera, we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights. Cloudera delivers an enterprise data cloud for any data, anywhere, from the Edge to AI. Powered by the relentless innovation of the open source community, Cloudera advances digital transformation for the world's largest enterprises. Learn more at Cloudera.com.
Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.
About Clayton, Dubilier & Rice
CD&R is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
View original content to download multimedia:https://www.prnewswire.com/news-releases/cloudera-completes-agreement-to-become-a-private-company-301396189.html
SOURCE Cloudera, Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.