Cloudera Product Chief Murthy Departs Q2 Revenue Up 10

The company announced plans to go private in a $5.3 billion deal with Clayton, Dubilier & Rice (CD&R) and KKR on June 1.

Cloudera to be acquired, turned private by CD&R, KKR in $5.3 billion dealWhat’s next for Cloudera?

Cloudera said going private will help it develop its hybrid and multi-cloud strategy for its Cloudera Data Platform (CDP). In a statement, Cloudera also said Arun Murthy, chief product officer, will leave the company effective immediately. Cloudera also said that CFO Jim Frankola will become a strategic advisor when the CD&R and KKR transaction closes and Kevin Cook, senior vice president of finance, will become CFO. Cloudera shareholders have approved the deal. The company reported second quarter revenue of $236.06 million with a net loss of $33.2 million, or 11 cents a share. On a non-GAAP basis, Cloudera reported second quarter earnings of 15 cents a share. No guidance was provided.