Goodbye partyCloud data company Cloudera is being taken private through a $5.3 million acquisition, and prices jump 24% in a single day as investors get excited about a big payout.
In the latest big-tech private equity acquisition, Cloudera disclosed that firms KKR & Co. and Clayton Dubilier & Rice LLC have agreed to buy the data management and analytics software company. Cloudera was one of the original hottestHadoop startups (cast your minds back on that one, it used to be the biggest way to process big data) back in the day, but as competition surged in the cloud space with big dogs like Amazon and Google getting in on the act, the stock lost its shine and has underperformed since its debut in 2017. It currently has a market cap of around $3.7 billion.
said analysts at Stifel on Tuesday.
Cloudera put the cherry on the top with its latest financials in Q1, with earnings per share almost 50% above expectations at $0.12, and revenues of $224.3 million coming in just over 3% above expectations and 7% up from the year before.