Acquisition will accelerate Alteryx's
innovation in AI and cloud analytics
IRVINE,
Calif., March 19, 2024 /PRNewswire/ -- Clearlake
Capital Group, L.P. ("Clearlake")
and Insight Partners L.P. ("Insight") today announced that their
affiliated funds have completed the acquisition of Alteryx, Inc., a
leader in artificial intelligence (AI) for enterprise analytics.
The transaction was previously announced on December 18, 2023 and approved by Alteryx
stockholders on March 13, 2024.
"We believe the Alteryx AI and cloud analytics platform provides
powerful and differentiated solutions that enable customers to gain
critical insights from data driven workflows, ultimately leading to
meaningful productivity and efficiency gains for these
organizations," said Behdad Eghbali,
Co-Founder and Managing Partner of Clearlake and Prashant
Mehrotra, Partner and Managing Director at Clearlake. "In partnership with Insight, we
are excited to collaborate with the company's talented employee
base and believe that through Clearlake's O.P.S.® framework and
sector expertise, Alteryx will have the resources to accelerate its
product innovation and continue to provide valuable solutions to
customers."
"Insight has had a front-row seat to Alteryx's evolution, and we
are thrilled to partner with the company as it continues to lead
across AI and analytics markets," said Deven Parekh and Ryan
Hinkle, each a Managing Director at Insight Partners. "With
a strong and loyal customer base and an exceptionally talented
team, we are confident in Alteryx's ability to excel in this
fast-evolving market landscape to reach its full potential."
As a result of the completion of the transaction, Alteryx
stockholders will receive $48.25 in
cash for each share of Alteryx Class A or Class B common stock that
they own. Alteryx is now a privately held company and its common
stock has ceased trading on the New York Stock Exchange.
Advisors
Qatalyst Partners LP served as exclusive financial advisor, and
Wilson Sonsini Goodrich &
Rosati, Professional Corporation and Fenwick & West LLP served
as legal advisors to Alteryx.
Houlihan Lokey, Goldman Sachs
& Co. LLC, J.P. Morgan Securities LLC, and Morgan Stanley &
Co. LLC served as financial advisors to Clearlake and Insight.
Sidley Austin LLP served as legal advisor to Clearlake.
Willkie Farr & Gallagher LLP
served as legal advisor to Insight.
ABOUT ALTERYX
Alteryx powers actionable insights with the AI Platform for
Enterprise Analytics. With Alteryx, organizations can drive
smarter, faster decisions with a secure platform deployable in
on-prem, hybrid, and cloud environments. More than 8,000 customers
globally rely on Alteryx to automate analytics to improve revenue
performance, manage costs, and mitigate risks across their
organizations.
Alteryx is a registered trademark of Alteryx, Inc. All other
product and brand names may be trademarks or registered trademarks
of their respective owners.
ABOUT CLEARLAKE
Founded in 2006, Clearlake is
an investment firm operating integrated businesses across private
equity, credit, and other related strategies. With a sector-focused
approach, the firm seeks to partner with experienced management
teams by providing patient, long term capital to dynamic businesses
that can benefit from Clearlake's
operational improvement approach, O.P.S.® The firm's core
target sectors are technology, industrials, and consumer.
Clearlake currently has over
$75 billion of assets under
management, and its senior investment principals have led or co-led
over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK, Dublin,
Ireland, and Singapore.
ABOUT INSIGHT PARTNERS
Insight Partners is a global software investor partnering with
high-growth technology, software, and Internet startup and ScaleUp
companies that are driving transformative change in their
industries. As of December 31, 2023,
the firm has over $80 billion in
regulatory assets under management. Insight Partners has invested
in more than 800 companies worldwide and has seen over 55 portfolio
companies achieve an IPO. Headquartered in New York City, Insight has offices in
London, Tel Aviv, and the Bay Area. Insight's mission
is to find, fund, and work successfully with visionary executives,
providing them with tailored, hands-on software expertise along
their growth journey, from their first investment to IPO. For more
information on Insight and all its investments, visit
insightpartners.com or follow us on X @insightpartners.
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SOURCE Alteryx, Inc.