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Cloudera and Hortonworks, two of the biggest players in the Hadoop big data space, today announced that they have finalized their all-stock merger. The new company will use the Cloudera brand and will continue to trade under the CLDR symbol on the New York Stock Exchange.
“Today, we start an exciting new chapter for Cloudera as we become the leading enterprise data cloud provider,” said Tom Reilly, chief executive officer of Cloudera, in today’s announcement. “This combined team and technology portfolio establish the new Cloudera as a clear market leader with the scale and resources to drive continued innovation and growth. We will provide customers a comprehensive solution-set to bring the right data analytics to data anywhere the enterprise needs to work, from the Edge to AI, with the industry’s first Enterprise Data Cloud.”
The companies describe the deal as a “merger of equals,” though Cloudera stockholders will own about 60 percent of the equity in the company.
The combined company expects to generate more than $ 720 million in revenue from its 2,500 customers that rely on it to help them manage the complexities of processing their data. While Hadoop itself is open source and freely available, Cloudera and Hortonworks abstract away most of the infrastructure. Both focused on slightly different markets, though, with Hortonworks going after a more technical user and a pure open-source approach, while Cloudera also offered some proprietary tools.
“Together, we are well-positioned to continue growing and competing in the streaming and IoT, data management, data warehousing, machine learning/AI and hybrid cloud markets,” said Hortonworks CEO Rob Bearden back when the deal was first announced. “Importantly, we will be able to offer a broader set of offerings that will enable our customers to capitalize on the value of their data.”