RTTNews | Jun 1, 2021 07:35AM EDT

07:34 Tuesday, June 1, 2021 (RTTNews.com) - Cloudera (CLDR), an enterprise data cloud company, Tuesday said it has agreed to be acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all cash deal valued at about $5.3 billion.

The transaction, which will make Cloudera a private company, is expected to close in the second half of 2021.

Cloudera shareholders will receive $16 per share, a 24% premium to the closing price as of May 28, and a 30% premium to the 30-day volume weighted average share price.

"We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity," said Rob Bearden, CEO of Cloudera.

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