03 Jan Cloudera and Hortonworks complete planned merger
IT Intelligence Bulletin (Pivotal iQ) — Cloudera, Inc. has announced completion of its merger with Hortonworks, Inc.
Cloudera will deliver the first enterprise data cloud – unlocking the power of any data, running in any cloud from the Edge to AI, on a 100% open-source data platform. An enterprise data cloud supports both hybrid and multi-cloud deployments, providing enterprises with the flexibility to perform machine learning and analytics with their data, their way, with no lock-in.
“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.”
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Deploying Cloudera’s software in the cloud is becoming more and more common, with 26 percent of customers (as of June 2018) that provide diagnostic information to the company using the software on a public cloud, up from 22 percent one year earlier.
According to CNBC, Cloudera and Hortonworks would have combined annual revenue of $720 million and that they expected 2020 revenue to exceed $1 billion. Cloudera will continue to trade on the New York Stock Exchange under the symbol “CLDR.” Hortonworks stockholders received 1.305 common shares of Cloudera for each share of Hortonworks stock owned.
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