Cloudera Inc. (NASDAQ: CLDR) stock gained by 15.86% in the pre-market trading session. At Cloudera, it is believed that data can make what is currently impossible attainable in the future. CLDR provides individuals the tools they need to turn complicated data into clear, actionable insights. From the edge to AI, Cloudera provides a business data cloud for any data, everywhere.
What is happening?
According to a source familiar with the situation, KKR & Co. and Clayton Dubilier & Rice LLC are nearing an agreement to take Cloudera Inc. private for $4.7 billion.
The private equity companies might clinch an agreement to buy out CLDR on Tuesday for $16 a share, or roughly a 24 percent premium to its last closing, according to the person, who did not want to be identified because he or she was discussing an internal deal. After normal business hours, Cloudera and KKR representatives did not reply to emailed requests for comment. A spokesman from CD&R declined to comment.
Upcoming Important Events
- On June 2, Cloudera CLDR is expected to report its first-quarter fiscal 2022 results. Total revenues for the quarter are expected to range between $216 million and $218 million, according to CLDR. Earnings are estimated to range between 7 cents and 9 cents per share on a non-GAAP basis.
Because of COVID-induced business uncertainty, Cloudera’s services business is likely to have been impacted by a lack of actual engagement with clients, either in a sales environment or at an onsite professional service environment. In the meanwhile, Cloudera’s subscription business, which is based on a recurring revenue model, is likely to have remained a key driver in the quarter to be reported. Subscription sales are expected to be in the region of $195-$197 million, according to the CLDR.
- CLDR announced that corporate officials would speak at Bernstein’s 37th Annual Strategic Decisions Conference, an upcoming financial conference. The virtual conference will take place on June 3rd.