Private-equity firms KKR & Co and Clayton Dubilier & Rice are nearing a deal to take Cloudera private at a valuation of $5.3 billion, Bloomberg News reported on Monday.
The private-equity giants finalized the deal on Tuesday to acquire the software firm at $16 a share, or about a 24 percent premium to its previous close.
Cloudera, which has activist investor Carl Icahn as its largest shareholder, has explored a sale since mid-2020 after receiving takeover interest.
The Wall Street Journal had earlier reported about the deal talks.
Cloudera, the enterprise data cloud company, reported results for its first quarter of fiscal 2022, ending April 30, 2021. Total revenue for the first quarter was $224.3 million, an increase of 7 percent as compared to the first quarter of fiscal 2021. Subscription revenue was $200.7 million, an increase of 7 percent as compared to the first quarter of fiscal 2021. Annualized Recurring Revenue grew 12 percent year-over-year.
Cloudera has agreed to acquire Datacoral and Cazena in two separate transactions. The additions of Datacoral and Cazena will support the evolution of Cloudera’s public cloud offering and expand Cloudera’s market opportunity as the company moves beyond big data to self-service.