Cloudera and Hortonworks on Wednesday announced an all-stock merger that would create a $5.2 billion provider of data management solutions in the cloud.

Be smart: The companies are calling it a "merger of equals," but it isn't. Cloudera shareholders would own 60% of the combined business, and its CEO Tom Reilly remains in charge. Hortonworks CEO Rob Bearden would step down from an operating role, but join the board of directors,