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Cloud analytics company Alteryx Inc. on Monday said it agreed to be taken private by Clearlake Capital Group LP and Insight Partners for $48.25 a share.
The deal values Alteryx
AYX,
at about $4.4 billion, or a 59% premium to the company’s unaffected closing stock price on Sept 5, the day prior to media reports about a potential deal.
Alteryx’s stock fell 2% to $47.04 on Monday after the transaction was announced.
“We have long appreciated the company’s best-in-class technology that enables users to transform data into insights,” said Clearlake’s Behdad Eghbali, co-founder and managing partner; and partner Prashant Mehrotra.
Insight Partners Managing Directors Deven Parekh and Ryan Hinkle said they first met Alteryx co-founder and Executive Chairman Dean Stoecker in 2006, followed by a partnership between the two firms in 2014.
Alteryx stock has fallen 7.2% in 2023, compared with a 42.1% rise by the Nasdaq.
Also read: Alteryx’s stock is soaring on narrow-than-expected loss, sales beat
