Cloudera and Hortonworks have entered into a strategic alliance to create World’s leading next generation Data Platform and deliver the industry’s first Enterprise Data Cloud. Under the merger, both the entities will combine in an all-stock merger of equals.
The transaction, which has been received unanimous approval by the Boards of Directors of both the companies, will form the world’s leading next-generation data platform provider, spanning multi-cloud, on-premises and the Edge.
The combination escalates the industry standard for hybrid cloud data management, boosting customer adoption, community development and partner engagement.
“Our businesses are highly complementary and strategic. 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,” said Tom Reilly, Chief Executive Officer at Cloudera.
“This compelling merger will create value for our respective stockholders and allow customers, partners, employees and the open source community to benefit from the enhanced offerings, larger scale and improved cost competitiveness inherent in this combination,” said Rob Bearden, Chief Executive Officer of Hortonworks.
“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. 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,” he added.
As per the agreement, Cloudera stockholders will acquire nearly 60 percent of the equity of the combined company and Hortonworks stockholders will own approximately 40 percent.