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  • Friday, November 22, 2024

Cloudera Closes Merger With Hortonworks; Tom Reilly Quoted


Tom Reilly

Cloudera (NYSE: CLDR) and Hortonworks have completed their merger to offer an enterprise data cloud platform designed to help organizations carry out data analytics and machine learning functions in hybrid and multicloud environments.

Cloudera CEO Tom Reilly said in a statement published Thursday the combined entity will deliver a set of platforms to support enterprises™ data analytics efforts.

œThis 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, he added.

Cloudera and Hortonworks received antitrust approval from the Federal Trade Commission in November 2018 to proceed with the merger through an all-stock transaction, which came a month after they announced their proposed combination.

Hortonworks stopped trading on Nasdaq on Wednesday and its stockholders secured 1.305 common shares of Cloudera™s stock for each share they own.

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