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    Sunstone Credit secures $20 million in Series A funding round

    Sunstone Credit secures $20 million in Series A funding round

    New-York based Impel secures $104 million in growth funding

    New-York based Impel secures $104 million in growth funding

    Metagenomi bags an extra $100 million before closing its Series B

    Metagenomi bags an extra $100 million before closing its Series B

    Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

    Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

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      Sunstone Credit secures $20 million in Series A funding round

      Sunstone Credit secures $20 million in Series A funding round

      New-York based Impel secures $104 million in growth funding

      New-York based Impel secures $104 million in growth funding

      Metagenomi bags an extra $100 million before closing its Series B

      Metagenomi bags an extra $100 million before closing its Series B

      Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

      Aspen Neuroscience sign $40 million debt deal with Silicon Valley Bank

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      Home topics Cloud infrastructure

      Wall Street firms bid $5.3 billion deal to acquire Cloudera

       454 total views,  1 views today

      USTechTimes Editor by USTechTimes Editor
      June 11, 2021
      Cloudera, Inc. is a US-based company that provides an enterprise data cloud.

      Cloudera, Inc. is a US-based company that provides an enterprise data cloud.

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      Enterprise data cloud platform Cloudera which was built on open-source technology, is all set to go private. Private equity firms KKR and Clayton Dubilier and Rice are nearing a deal to buy out Cloudera at a valuation of $5.3 billion. The private equity firms buy out the software firm at $16 a share, or about a 24% premium to its previous close.

      The USA-based Cloudera delivers an enterprise data cloud for any data, from the Edge to AI. It caters to industries including finance, healthcare, and government agencies.

      Potential acquisition deals after a year on the shelf 

      Cloudera had explored a potential sale since mid-2020 after receiving takeover interest. Summer of 2019 onwards Cloudera’s revenues dropped suddenly, and its then-CEO was ousted. There have been speculations that the Cloudera board was seeking an exit. Since then, Santa Clara, California-based software company was working with a financial advisor and was talking with potential buyers, including private equity firms.

      Following the acquisition, Cloudera will continue to operate as a private company. The company also announced two acquisitions on June 1, 2021, of Datacoral and Cazena. Cloudera also reported financial results for the first quarter of fiscal 2022, described as the announcement trifecta.

      Cloudera CEO Rob Bearden said the deal would provide value to shareholders while accelerating the company’s “Long-term path to hybrid cloud leadership for analytics. We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity.”

      If the deal is successful, it would mark another chapter for Cloudera that’s struggled to make money on products related to open-source software, which is usually free to use. Major technology companies, including Amazon.com, Alphabet, and Microsoft, have also pushed into some of the cloud software products that are Cloudera’s specialty.

      John Park, a partner with KKR and its head of Americas Technology Private Equity, said KKR is looking forward to helping Cloudera move forward as a private company. “We have followed the Cloudera story closely for several years and are pleased to be supporting its mission of helping companies make better use of their data in the ever-evolving hybrid IT environment,” he said.

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      Tags: AcquisitionClouderaData Cloudinvestmentopen-source technology
      USTechTimes Editor

      USTechTimes Editor

      USTechTimes.com is an independent new media site that focuses on the latest technology and digital news in the United States and around the world. The site focuses on new startup launching, startup funding, and development in the startup space.

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