Big data rivals Cloudera and Hortonworks have finalised their merger, creating a new open source player with ambitions to transform the enterprise data centre.

The all-stock deal was valued at $5.2 billion when first announced in October but dropped to around $3 billion by the completion of the deal this week, according to CNBC.

Cloudera shareholders will own about 60 per cent of the combined company, which will continue to be called Cloudera and trade on the New York Stock Exchange under the symbol CLDR.

Both companies sell services around open-source platform Hadoop, helping companies manage the complex big data technology.

Cloudera co-founder and chief strategy officer Mike Olson, noted that for many years the two companies have been “fierce competitors” but said combined company had put the past behind it.

“The stakes are simply too high, and the rewards too great, to be distracted by the past. As a single company, we are every bit as committed as we were separately. We intend to win,” Olson wrote in a blog post.  

Cloudera is betting on the continued demand for IoT, analytics, data warehousing and machine learning capabilities.

“We expect to transform the enterprise data centre, delivering a public-cloud experience in-house, ensuring that workloads can migrate to where they make the most sense to run and eliminating cloud vendor lock-in. We’ll do this with more people, a stronger balance sheet and a much larger customer base to learn from,” Olson wrote.  

Cloudera’s platform runs in private data centres as well as in the large public clouds provided by AWS, Microsoft, Google, IBM and Oracle.

“Today, we start an exciting new chapter for Cloudera as we become the leading enterprise data cloud provider,” said Tom Reilly, CEO of Cloudera.

“This combined team and technology portfolio establish the new Cloudera as a clear market leader with the scale and resources to drive continued innovation and growth. We will provide customers a comprehensive solution-set to bring the right data analytics to data anywhere the enterprise needs to work, from the edge to AI, with the industry’s first enterprise data cloud.”   

According to the company, an enterprise data cloud supports both hybrid and multi-cloud deployments, providing enterprises with the flexibility to perform machine learning and analytics with their data, their way, with no lock-in.

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