Cloudera and Hortonworks join forces, send stocks skyrocketing
October 03, 2018 / Sead Fadilpasic
Two major data companies who are also major rivals, Cloudera and Hortonworks, have announced that they will be joining forces. The two companies will combine in an all-stock merger of equals, the pair announced via a press release. The transaction has been approved by both companies’ Board of Directors, unanimously. The press release says Cloudera stockholders will own roughly 60 per cent of the new company’s equity, while Hortonworks stockholders will keep the remaining 40 per cent. Hortonworks stockholders will thus get 1.305 common shares of Cloudera, for each share of Hortonworks stock they own. This will bring the value of the new company up to $5.2 billion.