KKR and Clayton Dubilier & Rice LLC are in the final leg of acquiring could based data analytics company Cloudera Inc. at a valuation of about $4.7 billion. The private equity firms are looking to finalize the deal to buy out the software firm at $16 per share. This will be a 24% premium to its previous round of closing. All parties involved in the transaction have declined to comment thus far.
Serial investor Carl Icahn is the largest shareholder in Cloudera holding about 17.8% of Cloudera’s total shares, which is exploring a potential sale since the middle of 2020 after receiving takeover interest. The platform is struggling to make money on products related to open-source software and is hence expediting its sale. Major technology players like Microsoft, Amazon, and Alphabet, have also expanded their business into some of Cloudera’s software specialties. This expansion was seen gaining traction during the pandemic.