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KKR, CD&R Near Deal to Buy Cloudera

06/01/2021 | 03:02am EDT

By Miriam Gottfried and Cara Lombardo

Private-equity firms KKR & Co. and Clayton Dubilier & Rice LLC are nearing a deal to buy Cloudera Inc. and take the software company private, according to people familiar with the matter.

A deal for the data-cloud company could be finalized by Tuesday, assuming the talks don't fall apart at the last minute, the people said. The exact terms couldn't be learned, but the company has a market value of nearly $4 billion.

Founded in 2008 by a group of engineers from Alphabet Inc.'s Google, Facebook Inc., Oracle Corp. and Yahoo Inc., Cloudera was an early player in the open-source software framework Hadoop, which enables large amounts of data to be processed quickly. But it struggled to shift to the now-dominant public cloud, where it faces steep competition from much larger firms including Amazon.com Inc.'s Amazon Web Services.

Cloudera's shares have had a rocky run since their public-market debut in 2017. They are trading below their initial public offering price and are down roughly 8% so far this year after closing Friday at $12.86.

Still, recent results have shown improvement in the company's business. Cloudera in March reported revenue of $869 million for its fiscal year ended Jan. 31, an increase of 9%, and an operating margin of 17% compared with a negative one a year earlier. It is scheduled to report first-quarter results this week.

Activist investor Carl Icahn owns roughly 18% of the company and in 2019 received two board seats as part of a settlement. The company also tapped Robert Bearden as chief executive to replace Tom Reilly, who stepped down. Mr. Bearden was already a Cloudera director and is co-founder of Hortonworks Inc., an open-source company Cloudera bought in 2019.

Private-equity firms including KKR and CD&R have been increasingly snapping up software companies, attracted by their predictable and growing cash flows. Last summer, KKR sold Epicor Software Corp. to a group led by CD&R for about $4.7 billion including debt.

(END) Dow Jones Newswires

05-31-21 2135ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.58% 2675.61 Delayed Quote.51.79%
AMAZON.COM, INC. 1.07% 3697.18 Delayed Quote.12.27%
CLOUDERA, INC. 0.25% 15.855 Delayed Quote.13.73%
DJ INDUSTRIAL 0.21% 35135.1 Delayed Quote.14.56%
FACEBOOK INC 0.71% 372.53 Delayed Quote.35.37%
ICAHN ENTERPRISES L.P. 0.84% 57.6 Delayed Quote.12.73%
KKR & CO. INC. 0.50% 61.75 Delayed Quote.51.69%
ORACLE CORPORATION 0.09% 87.785 Delayed Quote.35.55%
ZR (ZR) - CBE (ELECTRONIC)/C1 0.44% 13.6 End-of-day quote.9.80%
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Financials (USD)
Sales 2021 237 B - -
Net income 2021 59 153 M - -
Net cash 2021 141 B - -
P/E ratio 2021 30,2x
Yield 2021 -
Capitalization 1 814 B 1 814 B -
EV / Sales 2021 7,08x
EV / Sales 2022 5,99x
Nbr of Employees 139 995
Free-Float 93,1%
Duration : Period :
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Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 48
Last Close Price 2 660,30 $
Average target price 2 831,94 $
Spread / Average Target 6,45%
EPS Revisions
Managers and Directors
Sundar Pichai Chief Executive Officer & Director
Ruth M. Porat Chief Financial Officer & Senior Vice President
John LeRoy Hennessy Chairman
Louis John Doerr Independent Director
Ann Mather Independent Director
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