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Alteryx , an Irvine , California - base software company develop datum skill and analytics product , todayannouncedthat it ’s agreed to be take by secret equity firms Clearlake Capital Group and Insight Partners in a good deal worth $ 4.4 billion .
Clearlake and Insight reportedly perplex out Symphony Technology Group , another individual fairness business firm , which Reutersreportedseveral days ago had been compete for Alteryx .
The Clearlake - Insight deal , which includes debt , measure Alteryx ’s fairness at around $ 3.46 billion , reportsReuters — a 29.1 % bounty over the society ’s closing share toll on Friday . It ’s expected to close in the first one-half of 2024 discipline to wonted closedown conditions and approvals .
The straightaway impingement on Alteryx ’s ~2,900 employees is n’t clear .
“ In addition to deliver substantial and certain cash value to our stockholder , this transaction will provide increase working capital and manufacture expertise — and the flexibility as a secret society , ” Alteryx CEO Mark Anderson said in a statement . “ Over the past several days , we ’ve execute a comprehensive transformation strategy to enhance our go - to - market capabilities and give a strong cloud and AI excogitation roadmap . We ’re worked up to partner with Clearlake and Insight for the next stage of Alteryx ’s journey . ”
SRC , the predecessor to Alteryx , was co - founded in 1997 by Dean Stoecker , Olivia Duane Adams and Ned Harding and initially pore on creating data point engine for demographic - based single-valued function and reporting . In 2006 , SRC released the software system appAlteryx as a platform for build up analytic processes and services . By 2011 , SRC had changed its name to Alteryx , which by then had become its core product .
After arouse tens of millions of dollar sign from VC firms include Toba Capital , Insight , Sapphire Ventures , ICONIQ Capital and Meritech Capital Partners , Alteryx snuff it public on the NYSE in 2017 .
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More lately , Alteryx transitioned to a subscription - focused business model — and greatly expanded its AI - power feature offerings — as part of a scheme to tip into growing demand for data point analytics services . Accordingto the analyst firm Research and Markets , the big information analytics market could be deserving $ 105.08 billion by 2027 , up from $ 37.34 billion in 2018 .
Alteryx now counts more than 8,300 companies as its customers , including Coca - Cola , Vodafone , Walmart and Ford . In its coverage of the deal today , SiliconAnglenotesthat Alteryxgenerated$232 million in sales last financial quarter , up 8 % from the same time a year ago , and that its annualized recurring tax revenue grew about three time as tight in the same meter systema skeletale , jumping roughly 21 % to $ 914 million .
“ When we founded Alteryx in 1997 , we did so with a sight for the future of information science and analytics . Today , Alteryx stands out as an diligence loss leader with a differentiate platform that scale datum democratization in a governed manner , ” Stoecker said . “ Our agreement with Clearlake and Insight validates the metier of our business and the value of Alteryx ’s capability and innovation . ”
