Cloudera and Hortonworks have announced plans to merge, creating an organisation valued at $5.2 billion.
The pair claims the merged outfit will be “the world’s leading next-generation data platform provider”.
The new firm will have a revenue of around $720 million and will save 125 million a year. There is no word at this point how those savings will be made, but we suspect more than one person will be cleaning out their desk and leaving the building.
Cloudera CEO Reilly is set to helm the new business, while Hortonworks CEO Rob Bearden will join the board of directors.
Bearden said: “This compelling merger will create value for our respective stockholders and allow customers, partners, employees and the open source community to benefit from the enhanced offerings, larger scale and improved cost competitiveness inherent in this combination. 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. Importantly, we will be able to offer a broader set of offerings that will enable our customers to capitalise on the value of their data.”
