Investors to Take Alteryx Private after $4.4bn Buy

In California, analytics automation firm Alteryx has agreed to be acquired by two private equity firms, Clearlake Capital Group and Insight Partners, in a transaction valued at $4.4bn including debt.

Alteryx's Analytics Cloud Platform helps more than 8,000 customers globally make intelligent decisions across their organizations with automated, AI-driven insights. The platform combines new sources of big data with market knowledge, location insight and existing business intelligence for solutions including predictive analytics and the production of analytics apps.

Both buyers are headquartered in the United States. Upon completion of the sale, expected in the first half of next year subject to stockholder and regulatory approvals, Alteryx will become a privately held company. Shareholders will receive $48.25 per share in cash per share of Alteryx Class A or Class B common stock, a 59% premium to the firm's stock price on September 5th, the last full trading day prior to media reports regarding a possible sale transaction. Dean Stoecker, co-founder and Executive Chairman of the Alteryx Board, controls c.49% of the company's votes and has entered into a customary voting agreement to support the transaction.

Alteryx CEO Mark Anderson (pictured) comments: 'We're pleased to announce our agreement with Clearlake and Insight. In addition to delivering significant and certain cash value to our stockholders, this transaction will provide increased working capital and industry expertise, and the flexibility as a private company. Together, we will make investments that matter most to our customers and accelerate our mission of harnessing the power of analytics to enable customers all over the world to transform data into a breakthrough'. Stoecker adds: 'When we founded Alteryx in 1997, we did so with a vision for the future of data science and analytics. Today, Alteryx stands out as an industry leader with a differentiated platform that scales data democratization in a governed manner. Our agreement with Clearlake and Insight validates the strength of our business and the value of Alteryx's capabilities and innovation'.

The company, which two weeks ago made an investment of its own, in NYC-based data observability platform Bigeye, is online at www.alteryx.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.