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Cloudera, Hortonworks conclude merger process

IANS new delhi India
Updated: 04-01-2019 22:48 IST

US-based software company Cloudera on Friday said it has completed its merger with data management platform and solutions firm Hortonworks. The merger was announced in October last year. Cloudera will continue to trade on the New York Stock Exchange under the symbol "CLDR", the company said in a statement, adding that Hortonworks stockholders received 1.305 common shares of Cloudera for each share of Hortonworks stock owned.

Commenting on the development, Tom Reilly, Cloudera Chief Executive Officer, said: "This combined team and technology portfolio establish the new Cloudera as a clear market leader. 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."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)