Clearlake, Insight Ink $4.4B Take-Private Deal for Alteryx
Private equity firms Clearlake Capital Group and Insight Partners have agreed to acquire Alteryx for $4.4 billion in cash, including debt, with plans to take the Irvine, CA-based analytics cloud platform private.
Alteryx shareholders will receive $48.25 per share in cash for each share of Alteryx Class A or Class B stock that they own, representing a 59% premium to Alteryx’s closing stock price on September 5, the last full trading day before media reports emerged about a possible deal.
“In addition to delivering significant and certain cash value to our stockholders, this transaction will provide increased working capital and industry expertise, and flexibility as a private company,” said Mark Anderson, Alteryx CEO.
Alteryx co-founder and executive chair Dean Stoecker, who owns approximately 49% of the company’s voting power through dual-class shares, has engaged into a voting agreement to support the deal.
Alteryx provides an analytics tool for businesses to scan for meaningful insights in their company data. The platform was created in 2006, and the company went public roughly a decade later, with approximately 2,300 clients using its software. Alteryx now has over 8,000 customers, including IBM Corp. and Salesforce Inc.
The deal is expected to close in the first half of 2024.
New York-based Insight Partners has invested across 79 portfolio companies in AI/ML and data sectors.
Clearlake has over $70 billion of assets under management and has led or co-led over 400 investments in technology, industrials and consumer sectors.