By Dhirendra Tripathi
Investing – Cloudera (NYSE:CLDR) shares were up by a fourth of their last close ahead of the market opening Tuesday as the enterprise data cloud provider agreed to be acquired for $5.3 billion by a clutch of private equity companies and go private.
Cloudera buyers, Clayton, Dubilier & Rice and KKR (NYSE:KKR), will pay its shareholders $16 apiece, representing a 24% premium to the May 28 closing price.
The transaction is expected to close in the second half of 2021.
It was a newsy day for the company as it itself agreed to acquire SaaS companies Datacoral and Cazena in two separate transactions. The company said the twin purchases will help it expands its business in the hybrid cloud space.
Cloudera also reported results for its first quarter of fiscal 2022, ending April 30.
Total revenue for the first quarter was $224.3 million, up 7% from the same quarter a year ago. Non-GAAP net income per share was $0.12, compared to $0.05.
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