M&A · Tech · Services-Prepackaged Software
Clayton, Dubilier & Rice and KKR to acquire Cloudera, Inc.
Announced Jun 1, 2021 · Closed Oct 8, 2021
Deal value$5.30BEV $4.85B
Premium24.0%To unaffected price
EV / Adj. EBITDA—5.6x EV / Revenue
ConsiderationAll cash$16.00 per share
Transaction
- Acquirer
- Clayton, Dubilier & Rice and KKR
- Target
- Cloudera, Inc.
- Buyer type
- Private equity
- Offer price per share
- $16.00
- Enterprise value
- $4.85B
- Status
- Closed Oct 8, 2021
Deal protections
- Break fee (target pays)
- $172M · 3.2%
- Reverse fee (buyer pays)
- $291M · 5.5%
- Go-shop
- 30-day go-shop
- Financing
- Committed · JPMorgan, BofA Securities, Deutsche Bank, Goldman Sachs, BNP Paribas, Barclays +2
Advisors
- To the acquirer
- GCA, BofA Securities, William Blair, Perella Weinberg, TD Cowen, JPMorgan
- To the target
- Morgan Stanley
- Morgan Stanley fee
- $58.0M
Sector context · Tech
- Comparable deals
- 31 in the prior 24 months
- Premium
- 24.0% vs. 33.0% sector median
- EV / Adj. EBITDA
- Sector median 17.3x
- Break fee
- 3.2% vs. 3.0% sector median
Timeline
- AnnouncedJun 1, 2021
- Proxy filedJul 7, 2021
- Definitive proxyJul 19, 2021
- Shareholder voteAug 25, 2021
- ClosedOct 8, 2021
Valuation · fairness opinions
Analyst price targets$12.66$14.73
Offer $16.00
Implied value per Cloudera, Inc. share by analysis, from Morgan Stanley.