Deal terms
As per the terms, Cloudera’s shareholders will receive $16 per share, which represents a 24% premium to Friday’s closing price and a 30% premium to the 30-day volume weighted average share price.
Earnings results
Cloudera released its first quarter 2022 earnings results today. Total revenue increased 7% to $224.3 million year-over-year. Subscription revenue rose 7% while annualized recurring revenue gained 12%.
The company reported a GAAP net loss of $40 million, or $0.14 per share, compared to a loss of $58 million, or $0.20 per share, last year. Adjusted EPS rose to $0.12 from $0.05 in the year-ago period.
At quarter-end, Cloudera had total cash, cash equivalents, marketable securities and restricted cash of $902.5 million.
In the wake of the acquisition deal with KKR and CD&R, Cloudera cancelled its earnings conference call and did not provide guidance for the second quarter or the full year of 2022.
Separate acquisitions
Cloudera also announced that it agreed to acquire two software-as-a-service companies, Datacoral and Cazena, in two separate transactions for undisclosed terms. The acquisitions are expected to expand Cloudera’s public cloud offering and market opportunity as it works to strengthen its footing in the hybrid cloud space. The deals are expected to close in Cloudera’s second quarter of 2022.