According to reports from the Wall Street Journal, private equity firms KKR and Clayton Dubilier & Rice are reportedly nearing a deal to buy cloud based data analysis platform Cloudera for $4.7 billion.
At $4.7 billion, the offering price would represent a 24% premium to where shares were trading prior to the deal’s announcement. Cloudera has been exploring a sale in recent months, especially since activist investor Carl Icahn became the company’s largest shareholder.
Since going public in 2017, Cloudera stock has struggled as the company has grown revenues, but struggled to make meaningful progress towards profitability.
The deal would likely be announced on Tuesday along with the company’s first quarter earnings, which is expected to be one of Cloudera’s first quarters with positive earnings.