Categories Technology

Cloudera (CLDR) to become a private company through deal with KKR and CD&R

The deal is expected to close in the second half of 2021

Shares of Cloudera Inc. (NYSE: CLDR) were up 24% in morning trade on Tuesday as the company had an eventful day with acquisition and earnings announcements. The highlight is the deal that Cloudera has struck with KKR and CD&R to be acquired and taken private for $5.3 billion. The stock has gained 14% since the beginning of this year.

Deal terms

Cloudera will be acquired by Clayton, Dubilier & Rice (CD&R) and KKR for approx. $5.3 billion in cash. The deal is expected to close in the second half of 2021 and will result in Cloudera becoming a private company.

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.  

Click here to read more on technology stocks

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

TTWO Earnings: Take-Two Interactive slips to a loss in Q1; revenue up 36%

Gaming company Take-Two Interactive Software, Inc. (NASDAQ: TTWO) announced first-quarter 2023 results Monday after the closing bell, reporting a 36% revenue growth. First-quarter revenues rose 36% annually to $1.1 billion

Tyson Foods (TSN): Strong demand for beef and price hikes in chicken fuel Q3 top line growth

Shares of Tyson Foods Inc. (NYSE: TSN) plunged 9% on Monday after the company delivered mixed results for the third quarter of 2022. Revenues beat estimates while profits missed expectations.

TSN Earnings: All you need to know about Tyson Foods’ Q3 2022 earnings results

Tyson Foods, Inc. (NYSE: TSN) reported third quarter 2022 earnings results today. Sales rose to $13.5 billion from $12.5 billion in the same period a year ago. Net income attributable to

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top