In a momentous move, Clearlake Capital Group and Insight Partners have completed the acquisition of Alteryx, Inc., a leading name in the sphere of enterprise analytics. The deal, which stands to bring significant changes to the artificial intelligence (AI) landscape, has now been approved by Alteryx stockholders.
Clearlake and Insight Acquire Alteryx Inc.
The two investment powerhouses Clearlake Capital Group and Insight Partners have officially acquired Alteryx, turning it into a privately-held company. With the completion of the transaction, Alteryx stockholders are set to receive $48.25 in cash for each share of Alteryx Class A or Class B common stock they own. Consequently, Alteryx has ceased trading its common stock on the New York Stock Exchange.
What the Acquisition Means for Alteryx
The acquisition is expected to significantly bolster Alteryx’s ability to deliver high-value solutions to its customers. Its well-established cloud analytics platform and AI technology offer a huge potential for growth and innovation. Clearlake’s O.P.S.® framework and sector expertise, along with Insight’s established presence and experience in the AI and analytics markets, promise a future of accelerated product innovation for Alteryx.
Statements from Clearlake, Insight, and Alteryx
Reflecting optimism about the acquisition, Behdad Eghbali, Co-Founder and Managing Partner of Clearlake and Prashant Mehrotra, Partner and Managing Director at Clearlake, expressed confidence in Alteryx’s potential. They anticipate significant productivity gains for organizations using Alteryx’s solutions. Insight’s Deven Parekh and Ryan Hinkle further emphasized their confidence in the company’s vision, appreciating its large and loyal customer base and talented team structure.
In closure, the acquisition of Alteryx by Clearlake and Insight stands to be a significant event in the tech marketplace. As a privately-held company, Alteryx now has the opportunity to further bolster its position in the AI and enterprise analytics sphere, backed by the resources and expertise of two industry giants. It will indeed be fascinating to watch its progress in the fast-evolving market landscape.
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