IRVINE, Calif., Dec. 18, 2023 /PRNewswire/ -- Alteryx, Inc. (NYSE: AYX), the Analytics Cloud Platform company, today announced that it has entered into a definitive agreement to be acquired by Clearlake Capital Group, L.P. (together with certain of its affiliates, "Clearlake") and Insight Partners ("Insight"), two global private equity firms, in a transaction valued at $4.4 billion, including debt. Upon completion of the transaction, Alteryx will become a privately held company.
18 replies (most recent on top)
Isn’t this the same private equity firm that bought Cornerstone OnDemand, a cloud-based learning and talent management software vendor. Wouldn’t it make sense for them to integrate Alteryx with Cornerstone? Why have two corporate structures?
Strong week for Alteryx (NYSE:AYX) shareholders.
The valuation is fair because of the ClearStory Data acquisition. Best they IPO ClearStory Data.
I spent several weeks reviewing someone's code in one of the easier languages the company uses.
It could've been reviewed and merged in about 3-4 days.
I fu--ing give up. I have no idea how they get promoted other than DEI and participation trophy bullsh-t.
As a customer, I have had a handful of success “managers” rotating out reaching out to my team for various things that we don’t need, desperately trying to set up a meeting for God knows what purpose. Now it all makes sense. Hey Alteryx, maybe stop paying people to just be human versions of pop-up advertisements. Let me use the product in peace.
I tell people who are struggling financially to go into tech all the time.
I just bring up personal experiences with Alteryx engineers struggling with basic tasks and how low the bar is. I also bring up how often they fu-k up over time with no improvements whatsoever.
Imposter syndrome isn't a thing when you're paying mo--ns who take several days to do a 5 min task involving several lines of code and some research.
Hope PE trims the fat appropriately.
I heard they are giving offer letters to staff to join the new company. Wonder how many will not get letters as part of this process. Anyone have experience with this? I’m expecting a hatchet job on the way in
This has got to be, hands down, the worst company to ever work for. Such a sh-t experience, never seen such a toxic leadership team. Its left a huge scar emotionally and mentally.
If we have shares, do we need to do anything to get the premium price? Or will they just send us a check?
I currently work for a company partially owned by Clearlake. Get ready for the cost cutting to come... Private Equity is ALL ABOUT THE MONEY.
I've been forced to lay off so many of my team and outsource to low cost countries.
Private Equity is ki-ling off the middle class in the US. The rich get richer, middle class get poorer, jobs moved to low cost countries (inda, asia, eastern europe, etc).
Sorry people...
Your $48 per share deal won’t fall through. Don’t worry.
Not saying it will happen. But I am going to laugh my a-s off if the transaction fails.
Hopefully they clean executive house and get rid of the entire C-suite
Laid off hundreds of good people to look good on the books. Forced those affected to live In fear and watch every penny. I know a few that had to well their house and rent somewhere else whilst looking for another job. Some of us are Still looking for jobs and struggling big time. Some have resulted in working in retail to make ends meet. All whilst the rich are getting richer. NICE ONE MARK!! Great leadership!!
Layoffs coming !!!!
So basically Mark Anderson took the price of this company from 160 bucks per share or so to 48.25…..great work there. I always thought the goal was to increase the value.
It's done.
The compensation is about to get hit real bad.
Expect it:
• Job walks the plank to save costs (AKA job cuts)
• Reduced benefits and perks
• Abandoned underperforming business departments (shutting/cutting down on HR and DEI&B, Advertising, Marketing and PR, Finance and Accounting, IT, Sales, etc.)
• Less transparency due to lower regulatory requirements (reduced transparency)
GOOD LUCK!
Under the terms of the agreement, Alteryx stockholders will receive $48.25 per share in cash for each share of Alteryx Class A or Class B common stock that they own. The per share purchase price represents a 59% premium to Alteryx's unaffected closing stock price on September 5, 2023, the last full trading day prior to media reports regarding a possible sale transaction.
"We're pleased to announce our agreement with Clearlake and Insight. In addition to delivering significant and certain cash value to our stockholders, this transaction will provide increased working capital and industry expertise, and the flexibility as a private company. Together, we will make investments that matter most to our customers and accelerate our mission of harnessing the power of analytics to enable customers all over the world to transform data into a breakthrough," said Mark Anderson, CEO of Alteryx. "Over the past several years, we've executed a comprehensive transformation strategy to enhance our go-to-market capabilities and establish a strong cloud and AI innovation roadmap. We are excited to partner with Clearlake and Insight for the next stage of Alteryx's journey. Both Clearlake and Insight have great respect for our mission, people and technology, and they look forward to helping our company – and in turn our customers and partners – be even more successful. I would like to thank our talented employees, whose hard work and dedication have helped us reach this milestone and will continue to fuel our success."