12. 8. 2019

KGI Announces Position in Cloudera; Supports Icahn Turnaround Plan

Krupa Global Investments (KGI), a Prague-based investment firm has announced a position in Cloudera, the Palo Alto, California-based software company known for its innovative data platform. KGI currently owns approximately 1 Million shares.

Cloudera’s business has been strained by increasing competition from Amazon Web Services and other cloud players with its stock declining by over 50% since August 2018. KGI believes that the fundamentals of Cloudera are strong but that substantial changes are needed for the company to realize its full potential. To that end, KGI is supporting the turnaround plan proposed by Carl Icahn to unlock shareholder value.

Pavol Krupa, Chairman of Krupa Global Investments has the following comment: “We fully support the Mr. Icahn’s plan to obtain a board seat and make necessary shake-ups in the management team. It is unprecedented that a company in the cloud/data analytics sector performs so badly at a time when the cloud business is on the rise. Management needs to better compete with AWS and other cloud players. We think that Cloudera shares are currently undervalued and we look forward to making necessary changes that will benefit shareholder, employees and customers alike.”