IRVINE, Calif. - In a move that could reshape the landscape of AI and cloud analytics, Alteryx (NYSE:AYX), Inc., a company specializing in artificial intelligence for enterprise analytics, has been acquired by private equity firms Clearlake Capital Group, L.P. ("Clearlake") and Insight Partners L.P. ("Insight"). The deal, which was first announced on December 18, 2023, received approval from Alteryx stockholders on March 13, 2024, and has now been finalized.
Alteryx stockholders will receive $48.25 in cash for each share of Alteryx Class A or Class B common stock as a result of the acquisition. With the completion of this transaction, Alteryx has transitioned from a public entity to a privately held company, and its shares have ceased trading on the New York Stock Exchange.
The leadership of Clearlake expressed their enthusiasm for the powerful and differentiated solutions that Alteryx provides, which they believe will lead to significant productivity and efficiency gains for organizations utilizing data-driven workflows. Clearlake intends to apply its O.P.S.® framework and sector expertise to support Alteryx in accelerating product innovation and continuing to deliver valuable solutions to customers.
Insight Partners, which has closely observed Alteryx's development, shares in the optimism about the company's potential to lead the AI and analytics markets. Citing Alteryx's strong customer base and talented team, Insight Partners anticipates that Alteryx will thrive in the rapidly evolving market.
Alteryx's platform is trusted by over 8,000 global customers for automating analytics to enhance revenue performance, manage costs, and mitigate risks. The platform is designed for deployment in various environments, including on-premises, hybrid, and cloud.
The financial advisors for Alteryx during this transaction were Qatalyst Partners LP, Wilson Sonsini Goodrich & Rosati, Professional Corporation, and Fenwick & West LLP. On the other side, Clearlake and Insight were advised by financial firms Houlihan Lokey (NYSE:HLI), Goldman Sachs & Co (NYSE:GS). LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co (NYSE:MS). LLC, with legal advice from Sidley Austin LLP for Clearlake and Willkie Farr & Gallagher LLP for Insight.
This acquisition is based on a press release statement and marks a significant milestone for Alteryx as it embarks on its next phase of growth under the ownership of Clearlake and Insight Partners.
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