Cloudera and Hortonworks have merged to accelerate their growth and create an industry standard for hybrid cloud data management.
The combined equity value of the two data tech companies now stands at $5.2 billion. Cloudera stockholders will own around 60% of the equity while Hortonworks stockholders will own the other 40%.
Tom Reilly, CEO at Cloudera, said the merger would create value for stockholders and create a broader offering for customers.
“Our businesses are highly complementary and strategic,” Reilly said. “By bringing together Hortonworks’ investments in end-to-end data management with Cloudera’s investments in data warehousing and machine learning, we will deliver the industry’s first enterprise data cloud from the edge to AI. The vision will enable our companies to advance our shared commitment to customer success in their pursuit of digital transformation.”
