Cloudera has merged with Hortonworks to create a next generation data platform and the first enterprise data cloud.
Both companies have entered into a definitive agreement under which they will combine in an all-stock merger of equals.
Under the terms of the transaction agreement, Cloudera stockholders will own approximately 60% of the equity of the combined company and Hortonworks stockholders will own approximately 40%.
The companies have a combined fully-diluted equity value of $5.2bn based on closing prices on October 2, 2018.
Tom Reilly, CEO at Cloudera, stated, “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.”
The combination accelerates customer adoption, community development and partner engagement. It will also accelerate market development and innovation in IoT, streaming, data warehouse, hybrid cloud, machine learning/AI and expand market opportunity with complementary offerings, including Hortonworks DataFlow and Cloudera Data Science Workbench. The agreement also enhances partnerships with public cloud vendors and systems integrators.
Founded in 2008, Palo Alto-based Cloudera provides a platform for machine learning and analytics optimized for the cloud. It provides its services to telecommunications, retail, education, public sector, insurance, energy, healthcare and technology sectors, among others.
For financial services, the company helps enforce and scale compliance with an evolving set of regulations, from Dodd-Frank, CCAR and BCBS239 to Know Your Customer (KYC) and OATS. Its solutions also detect and prevent fraud by enriching and analysing full data sets, provides a cybersecurity solution, and helps modern enterprise risk systems must scale and adapt.
Hortonworks provides an open-source global data management platforms and services so customers can manage the full lifecycle of their data. Its solutions are used in a range of sectors including healthcare, energy, communications, public sector, oil & gas and financial services.
The company’s platform assists with GDPR Compliance, provides security & governance solutions, analyses trading logs to detect money laundering, and can store and analyse multiple data streams to help banks control new financial account risks in their branches.
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