Clearlake and Insight reach $4.4 billion deal to take software maker Alteryx private

Alteryx, A Irvine, Based in California software business development data science And analytic some products, Today announcement that It is agreed has be acquired by private equity companies Clear lake Capital Band And Preview The partners In A agreement value $4.4 billion.

Clear lake And Preview would have beat out Symphony Technology Band, another private equity farm, which Reuters reported several days There is had has been competition For Alteryx.

THE Clearlake-Insight agreement, which understand debt, values Alteryx equity has around $3.46 billion, reports Reuters — A 29.1% prime on THE the company closing share price on Friday. It is expected has close In THE First of all half of 2024 subject has customary closing terms And approvals.

THE immediate impact on Alteryx ~2,900 employees is not it clear.

"In addition has deliver significant And certain species value has OUR shareholders, This transaction will provide increase functioning capital And industry skill — And THE flexibility as A private business," Alteryx CEO Brand Anderson said In A statement. "On THE pass several years, We have accomplished A complete transformation strategy has improve OUR go to the market abilities And establish A strong cloud And AI innovation roadmap. Were excited has partner with Clear lake And Preview For THE following scene of Alteryx journey. »

SRC, THE predecessor has Alteryx, was co-founded In 1997 by Dean Stoecker, Olivia Duane Adams And Ned Harding And initially concentrate on create data engines For based on demographics cartography And report. In 2006, SRC released THE software application Alteryx as A platform For building analytic process And services. By 2011, SRC had amended It is name has Alteryx, which by SO had become It is heart product.

After breeding tens of millions of dollars Since Capital risk companies including Toba Capital, Preview, Sapphire Companies, ICONIC Capital And Meritech Capital The partners, Alteryx went public on THE New York stock market In 2017.

More recently, Alteryx transitioned has A subscription-driven business model — And very extended It is Powered by AI functionality offerings — as part of A strategy has faucet In growth request For data analytic services. According to has THE analyst farm Research And The steps, THE big data analytic walk could be value $105.08 billion by 2027, up Since $37.34 billion In 2018.

Alteryx NOW account more that 8,300 companies as It is clients, including Coca-Cola, Vodafone, Walmart And Ford. In It is blanket of THE agreement Today, SiliconAngle Remarks that Alteryx generated $232 million In sales last tax quarter, up 8% Since THE even time A year There is, And that It is annualized recurrent income grown up almost three times as fast In THE even time frame, jump roughly 21% has $914 millions.

"When We based Alteryx In 1997, We did SO with A vision For THE future of data science And analytic. Today, Alteryx stands out as A industry chief with A differentiated platform that Balance data democratization In A governed manner," Stoecker said. "OUR agreement with Clear lake And Preview valid THE strength of OUR business And THE value of Alteryx abilities And innovation. »