Cloudera and Hortonworks finalize their merger ~ The Tech News

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Thursday 3 January 2019

Cloudera and Hortonworks finalize their merger

AppyBro09:31No comments

Cloudera and Hortonworks, two of the biggest players in the Hadoop big data space, today announced that they have finalized their all-stock merger. The new company will use the Cloudera brand and will continue to trade under the CLDR symbol on the New York Stock Exchange.

“Our businesses are highly complementary and strategic,” said Cloudera CEO Tom Reilly in today’s announcement. “By bringing together Hortonworks’ investments in end-to-end data management with Cloudera’s investments in data warehousing and machine learning, we will deliver the industry’s first enterprise data cloud from the Edge to AI. This vision will enable our companies to advance our shared commitment to customer success in their pursuit of digital transformation.”

The companies describe the deal as a “merger of equals,” though Cloudera stockholders will own about 60 percent of the equity in the company.

The combined company expects to generate over $720 million in revenue from its 2,500 customers who rely on it to help them manage the complexities of processing their data. While Hadoop itself is open source and freely available, Cloudera and Hortonworks abstract away most of the infrastructure. Both focused on slightly different markets, though, with Hortonworks going after a more technical user and a pure open source approach, while Cloudera also offered some proprietary tools.

“Together, we are well positioned to continue growing and competing in the streaming and IoT, data management, data warehousing, machine learning/AI and hybrid cloud markets,” said Hortonworks CEO Rob Bearden. “Importantly, we will be able to offer a broader set of offerings that will enable our customers to capitalize on the value of their data.”

Cloudera and Hortonworks announce $5.2 billion merger

from TechCrunch https://tcrn.ch/2GV4vut

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