BUSINESS Silicon Valley big data firms merge to build enterprise data cloud platform

BUSINESS

Silicon Valley big data firms merge to build enterprise data cloud platform

Xinhua

08:18, January 04, 2019

data cloud platform cgtn.jpg

(Photo: CGTN)

SAN FRANCISCO, Jan. 3 (Xinhua) -- Silicon Valley-based big data unicorn Cloudera Inc. Thursday announced the completion of its merger with software developer Hortonworks Inc. to build the first enterprise data cloud platform that aims to take on Amazon's cloud service.

The new company, which is to operate under Cloudera name, aims to unlock the power of any data running in any cloud from the Edge to artificial intelligence (AI) on a 100 percent Hadoop open-source data platform where users can store, process and analyze various types of data.

The combined companies will have annual sales of 720 million U.S. dollars and more than 2,500 customers. Cloudera, headquartered in Palo Alto in Northern California, will provide its technology for big data tasks in cloud and hybrid IT environments.

"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," said Tom Reilly, chief executive officer of Cloudera.

The Cloudera-Hortonworks deal, which was announced in October 2018, was approved by shareholders of each company two months later, with Hortonworks shareholders receiving 1.305 common shares of Cloudera for each share of Hortonworks stock.

Cloudera will continue to trade on the New York Stock Exchange under the symbol "CLDR."


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