Post the merger, Cloudera will keep trading on the New York Stock Exchange under the symbol “CLDR”. According to the official statement, Hortonworks stockholders have received 1.305 common shares of Cloudera for each share of Hortonworks stock owned.
The merger will create open-source powerhouse and enable the creation of industry’s first Enterprise data cloud from the edge to Artificial Intelligence.
“Today, we start an exciting new chapter for Cloudera as we become the leading enterprise data cloud provider”, said Tom Reilly, Chief Executive Officer of Cloudera. “This combined team and technology portfolio establish the new Cloudera as a clear market leader with the scale and resources to drive continued innovation and growth. We will provide customers a comprehensive solution-set to bring the right data analytics to data anywhere the enterprise needs to work, from the Edge to AI, with the industry’s first Enterprise Data Cloud.”
Further, leading research firm Forrester said that, “this merger…will help in leveling the innovation in the big data space, especially in supporting an end-to-end big data strategy in a hybrid and multi-cloud environment. We believe that the situation will be beneficial for customers, partners, and the vendors.”
Cloudera will be organising a virtual event on January 16, 2019 at 9:00 a.m. Indian Standard Time to magnify the company’s vision on accelerating innovation and offer the industry’s first enterprise data cloud.