, Columnist
Cloudera and Hortonworks Are a Match Made Underwater
Former hot startups settle for less than when they were private.
Taking the plunge.
Photographer: Johannes Eisele/AFP/Getty Images
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Sometimes the universe offers up a gift of symbolism. One corporate merger this week reveals the hangover of the mini-bubble that quietly burst in Silicon Valley.
On Wednesday, two young software companies, Hortonworks Inc. and Cloudera Inc., said they planned to combine. Hortonworks shareholders will trade in their stock for Cloudera’s at an effective value of $22.82 for each Hortonworks share, based on the moving average share price over the 10 prior trading days. Remember that number.