Cloudera news for Friday about the company signing a deal with IBM (NYSE:IBM) has CLDR stock moving.
This new deal between Coudera (NYSE:CLDR) and IBM is an extension of a previous deal between IBM and Hortonworks. Hortonworks is a cloud company that merged with Cloudera earlier this year. This new deal will add Cloudera’s platform for IBM’s use.
The Cloudera news also means that IBM is going to start reselling its Enterprise Data Hub and DataFlow services. At the same time, Cloudera will begin reselling IBM’s Watson Studio and BigSQL.
The Cloudera news means that the two companies will be working together to bring more AI solutions to customers. This includes targeting organizations that are operating across the Apache Hadoop ecosystem.
Here’s what Scott Andress, Vice President of Global Channels and Alliances for CLDR, has to say about the Cloudera news.
“By teaming more strategically with IBM we can accelerate data-driven decision making for our joint enterprise customers who want a hybrid and multi-cloud data management solution with common security and governance. We are pleased to have expanded our relationship with IBM, and I am very encouraged by the momentum that our companies have continued to generate together since the merger.”
CLDR was hit hard earlier this month when it released its most recent earnings report. What was hammering away at the stock was the company’s mixed outlook for fiscal 2020. It also announced it is losing its CEO that same day.
CLDR stock was up slightly as of Friday morning, but is down 49% since the start of the year.
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As of this writing, William White did not hold a position in any of the aforementioned securities.