The company is betting that private equity investment will boost its turnaround efforts in the competitive data management software space.
The merger of equals would combine Hadoop software developers with complementary strengths in data storage, advanced analytics, and data management.
A hefty charge for stock-based compensation led to the newly public tech company's sizable GAAP net loss.
The enterprise software firm would have a market cap between $2.2 billion and $2.4 billion — compared to the $4.1 billion valuation it received in 2014.
Some corporations are already jettisoning legacy databases and restrictive hardware setups and moving to the open-source framework for data analytics.
