In a strategic move that sent shockwaves through the business world, Alteryx Inc., the analytics cloud platform giant, has inked a game-changing take-private deal valued at a staggering $4.4 billion. Clearlake Capital Group and Insight Partners are set to spearhead the acquisition, creating a seismic shift in the landscape of data analytics.
A Whopping Premium: $4.4 Billion Valuation Unveiled
In a statement released on Monday, Alteryx disclosed that shareholders are set to receive a jaw-dropping $48.25 per share in cash, marking a phenomenal 59% premium to the company’s closing stock price. This extraordinary valuation, meticulously crafted by four powerhouse firms, comes on the heels of widespread media reports about the potential sale.
Clearlake Capital Alteryx $4.4B Deal : Legal Titans at the Helm
Guiding Alteryx through this historic deal are legal stalwarts Wilson Sonsini Goodrich & Rosati PC and Fenwick & West LLP, providing counsel to the analytics juggernaut. On the other side, Sidley Austin LLP lends its expertise to Clearlake Capital, while Willkie Farr & Gallagher LLP represents Insight Partners.
Alteryx’s Transformation: A Leap into the Private Realm
Once the $4.4 billion deal, encompassing debt, is sealed, Alteryx will transition from a public entity to a dynamic private company. This shift, according to Alteryx CEO Mark Anderson, not only ensures a substantial cash windfall for shareholders but also unlocks a realm of opportunities for the company to thrive in a more flexible environment.
A Visionary Alliance: Clearlake and Insight Partners Join Forces
Behdad Eghbali and Prashant Mehrota, co-founder and managing partner, and partner at Clearlake respectively, foresee immense growth opportunities in Alteryx’s AI products and feature-rich cloud solutions. Insight Partners Managing Directors, Deven Parekh and Ryan Hinkle, expressed their excitement about Alteryx’s journey, citing the company’s success as a testament to visionary leadership and a commitment to shaping the future of software and technology.
Clearlake Capital Alteryx $4.4B Deal : Cloud and AI/ML in Focus
Deemed as a transformative step, the deal is projected to conclude in the first half of the upcoming year, pending customary closing conditions and regulatory approvals. Alteryx’s co-founder and executive chairman, Dean Stoecker, holding nearly half of the company’s voting power, has pledged support through a voting rights agreement.
