Cloudera, which provides a data management platform based on its open source hybrid of Hadoop, announced terms for its IPO on Monday.
The Palo Alto, CA-based company plans to raise $195 million by offering 15 million shares at a price range of $12 to $14. Intel (Nasdaq: INTC) intends to purchase 10% of the offering ($19.5 million). At the midpoint of the proposed range, Cloudera would command a fully diluted market value of $2.2 billion.
Cloudera was founded in 2008 and booked $261 million in sales for the 12 months ended January 31, 2017. It plans to list on the NYSE under the symbol CLDR. Morgan Stanley, J.P. Morgan, Allen & Company, BofA Merrill Lynch, Citi and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of April 24, 2017.
