Data specialist Alteryx will be definitively owned by private investment companies Clearlake Capital Group and Insight Partners for a total of 4 billion euros ($4.4 billion). This brings an end to a sale process that started earlier this year.
Alteryx, a data science and analytics specialist, had been looking for a possible buyer since September this year. The company suffered greatly from competition from major players in the data science and analytics market segment, such as Microsoft and Oracle. As a result, the data company was unable to gain a good market position. Alteryx also faced setbacks in the launch of new products.
Acquisition private equity
The search for a possible buyer resulted in the data company now being owned by the private investment companies Clearlake Capital Group and Insight Partners. The agreed acquisition amount is $4.4 billion, including debt.
Co-founder and Executive Chair Dean Stoecker agreed with the deal. That was a significant win as he has an equity stake of 49 percent in the company.
Increased commitment to cloud and AI/ML
Alteryx provides a platform that allows companies to quickly “process” and analyze their data (automatically). They can then use these analyses in turn to improve their business processes and productivity. Everything works on the basis of a subscription model.
In the near future, all parties involved are committed to further expanding the solutions and applications. Especially in the areas of cloud and AI/ML.
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