Alteryx (NYSE: AYX) has agreed to an approximately $4.4 billion transaction for its sale to global private equity firms Clearlake Capital Group and Insight Partners.
The cloud platform provider said Monday it will become a private company upon completion of the acquisition, which is expected in the first half of 2024, subject to customary closing conditions and approvals.
Commenting on the deal, Mark Anderson, CEO of Alteryx, remarked, “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.”
The transaction value includes debt and Alteryx stockholders will receive $48.25 per share in cash for each share of their Alteryx Class A or Class B common stock.
“As organizations become increasingly data driven and focused on utilizing artificial intelligence technology, we see a tremendous growth opportunity for Alteryx’s new AI products and feature-rich cloud solutions and to further its reputation as an innovator in the data preparation and data analytics markets,” said Behdad Eghbali, co-founder and managing partner; and Prashant Mehrotra, partner at Clearlake.
Alteryx’s advisers on the deal are Qatalyst Partners, Wilson Sonsini Goodrich & Rosati, Professional Corporation and Fenwick & West, while Clearlake and Insight have Houlihan Lokey, Goldman Sachs & Co., J.P. Morgan Securities and Morgan Stanley & Co. as financial advisers. The firm’s legal advisers are Sidley Austin and Willkie Farr & Gallagher, respectively.
