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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. -0.04% 2694.72 Delayed Quote.53.74%
AMAZON.COM, INC. 0.04% 3330.525 Delayed Quote.2.17%
CLOUDERA, INC. -0.03% 15.865 Delayed Quote.14.09%
DJ INDUSTRIAL 0.59% 35142.48 Delayed Quote.14.14%
FACEBOOK INC -0.68% 353.8041 Delayed Quote.30.44%
ICAHN ENTERPRISES L.P. 0.48% 58.3901 Delayed Quote.14.68%
KKR & CO. INC. 0.69% 64.19 Delayed Quote.57.47%
ORACLE CORPORATION 0.54% 87.56 Delayed Quote.34.70%
ZR (ZR) - CBE (ELECTRONIC)/C1 -0.04% 13.675 End-of-day quote.10.28%
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Financials (USD)
Sales 2021 250 B - -
Net income 2021 68 758 M - -
Net cash 2021 143 B - -
P/E ratio 2021 26,8x
Yield 2021 -
Capitalization 1 800 B 1 800 B -
EV / Sales 2021 6,62x
EV / Sales 2022 5,67x
Nbr of Employees 144 056
Free-Float 93,1%
Duration : Period :
Alphabet Inc. Technical Analysis Chart | GOOGL | US02079K3059 | MarketScreener
Technical analysis trends ALPHABET INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 48
Last Close Price 2 694,53 $
Average target price 3 127,27 $
Spread / Average Target 16,1%
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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