Cloudera Inc. is set to go private after capital market firms KKR & Co. and Clayton Dubilier & Rice agreed to buy it for $5.3 billion, the WSJ reported. 

  • The equity firms will pay $16 a share for the software company, 24% higher than its Friday close.
  • Cloudera is 18% owned by activist investor Carl Icahn, who agreed to vote his shares in favor of the deal.
  • The agreement includes a go-shop period which will allow the software firm to scout for higher offers for 30 days.
  • Cloudera reported a 9% climb in its fiscal year ended January 31 at $869 million, while first-quarter revenues rose 7% year-on-year.
  • Operating margin for the fiscal year stood at 17% versus -1% the previous year.
  • Cloudera shares have been trading below their initial public offering price since the market debut in 2017.

CLDR: NYSE is up 24.11%.