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Private-equity firms KKR & Co. and Clayton Dubilier & Rice LLC agreed to buy Cloudera Inc.
CLDR,
for roughly $5.3 billion in a deal that would take the software company private.
The pair on Tuesday said they would pay $16 a share for the data-cloud company, representing a roughly 24% premium to where the shares closed Friday.
The Wall Street Journal reported Monday that the firms were close to a deal.
Founded in 2008 by a group of engineers from Alphabet Inc.’s
GOOG,
Google, Facebook Inc.
FB,
Oracle Corp.
ORCL,
and Yahoo Inc., Cloudera was an early player in the open-source software framework Hadoop, which enables large amounts of data to be processed quickly. But it struggled to shift to the now-dominant public cloud, where it faces steep competition from much larger firms including Amazon.com Inc.’s
AMZN,
Amazon Web Services.
An expanded version of this article appears on WSJ.com.
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