Cloudera Reaches Pact with Icahn

Cloudera, Inc. (NYSE:CLDR) has reached an agreement with Carl Icahn in which the company states Icahn Group now owns 50,343,460 shares, representing 18.36% of the company's outstanding common stock.

The Palo Alto-based Cloudera says, under the terms of the agreement, the company has appointed Nicholas Graziano and Jesse Lynn -- employees of Icahn Enterprises L.P. -- to the company's board of directors. The Icahn Group will limit its ownership of Cloudera securities to 20% of outstanding common stock.

Said CEO Martin Cole "We are happy to have reached this agreement with Mr. Icahn and welcome Mr. Graziano and Mr. Lynn as members of our Board of Directors."

CLDR was in the news recently by declaring that over 200 of the world's leading manufacturing companies depend on Cloudera products and services to transform their data management strategies.

One source says there will be an estimated 41.6 billion connected IoT devices generating 79.4 zettabytes (ZB) of data in 2025. For manufacturing, this explosion of connected devices is helping the industry step into a new era of innovation and automation

At Cloudera, according to Monday’s news release, "we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights.

"Cloudera delivers an enterprise data cloud for any data, anywhere, from the Edge to AI. Powered by the relentless innovation of the open source community, Cloudera advances digital transformation for the world's largest enterprises."

Cloudera shares were trading three cents to $6.97