Cloudera Inc. CLDR, +2.46% said late Wednesday that it bought back all of Intel Corp.’s INTC, +0.87% stake in the company for $314 million. The cloud-based enterprise software company said it used part of a $500 million term loan to buy back about 26 million shares from Intel for $12.05 apiece.
The buyback does not affect existing business partnerships with Intel, Cloudera said. Intel had held the second largest institutional stake in the company at 8.3%, compared with billionaire investor Carl Icahn’s 16.7% stake, according to FactSet data. Cloudera shares rose 1.3% after hours, following a 2.5% rise in the regular session to close at $15.00.