Cloudera to be taken private in $5.3bn deal

Enterprise data cloud company Cloudera has agreed to be taken private by private equity firms Clayton, Dubilier & Rice and KKR in an all-cash deal valued at around $5.3bn.

Cloudera said the transaction delivers "substantial value" to its shareholders, who will receive $16.00 per share. This is a 24% premium to the closing share price on Friday.

The company’s chief executive officer, Rob Bearden, said: "This transaction provides substantial and certain value to our shareholders while also accelerating Cloudera’s long-term path to hybrid cloud leadership for analytics that span the complete data lifecycle - from the Edge to AI.

"We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity."

The deal is expected to close in the second half of this year.

At 1255 BST, Cloudera shares were up 24% in pre-market trade at $15.93.