Palo Alto, California-based Cloudera, Inc. a provider of enterprise-level cloud services that were built on open source technology (Apache Hadoop-based software), has announced that it will be acquired by New York, New York-based KKR & Co., a global investment manager, and by New York, New York-based Clayton Dubilier & Rice, LLC, a private equity investment manager, and taken private in a $5.3 billion transaction.
According to a company statement, "Today marks the beginning of an exciting new chapter for Cloudera. Cloudera will become a private company with the flexibility and resources to accelerate product innovation, cloud transformation, and customer growth. Cloudera will benefit from the operating capabilities, capital support, and expertise of Clayton, Dubilier & Rice (CD&R), and KKR – two of the most experienced and successful global investment firms in the world recognized for supporting the growth strategies of the businesses they back."
The struggling company was heavily influenced by activist investor Carl Icahn's New York, New York-based private equity firm which was a majority shareholder. The company appears to have been overwhelmed by competition from cloud services offered by larger rivals as Its competitors include Amazon Web Services, Google Cloud Platform, Microsoft Azure, HP Inc., IBM, Oracle Corp., and Teradata.
Employees should beware as financial managers traditionally restructure enterprises to divest losing activities, improve revenues, and cut costs. Without fail, significantly reducing the workforce through buyouts, layoffs, and attrition.
According to employees, the company had already laid off a large portion of its workforce at Icahn's urging on May 5, 2020.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?