[Asia Economy Reporter Yujin Cho] Global private equity firms KKR and CD&R are acquiring the US data platform company Cloudera for $4.7 billion (approximately 5.2 trillion KRW).
On the 1st (local time), Bloomberg News, citing internal sources, reported that KKR and CD&R are close to finalizing a deal to acquire Cloudera.
The acquisition price is $16 per share, reflecting a 24% premium over the previous closing price.
Cloudera, where activist investor Carl Icahn is a major shareholder, has been seeking a buyer since mid-last year due to continued poor performance, the news agency reported.
Founded in 2008, Cloudera has grown its main revenue source by providing data analytics platform solutions to enterprise customers. However, sales have declined as competition intensified with the entry of big tech companies such as Amazon and Microsoft (MS) into new markets.
Cloudera, which was listed on the New York Stock Exchange (NYSE) in 2017, had a closing price of $12.86 per share and a market capitalization of $3.781 billion as of the previous closing.
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