• Alteryx Stockholders to Receive $48.25 Per Share in Cash, Delivering Significant and Certain Cash Value

• Transaction Represents a 59% Premium to Unaffected Share Price

Alteryx, Inc., the Analytics Cloud Platform company, 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.

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.”

“When we founded Alteryx in 1997, we did so with a vision for the future of data science and analytics. Today, Alteryx stands out as an industry leader with a differentiated platform that scales data democratization in a governed manner,” said Dean Stoecker, Co-Founder and Executive Chairman of the Alteryx Board of Directors. “Our agreement with Clearlake and Insight validates the strength of our business and the value of Alteryx’s capabilities and innovation.”

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“As organizations become increasingly data driven and focused on utilizing artificial intelligence (AI) technology, we see a tremendous growth opportunity for Alteryx’s new AI products and feature-rich cloud solutions and to further its reputation as an innovator in the data preparation and data analytics markets. We believe Clearlake’s sector expertise and O.P.S.® framework for supporting company growth, coupled with Alteryx’s talented team and impactful mission, is a winning formula for enterprises looking to use data to improve and scale their businesses,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, at Clearlake. “We have long appreciated the Company’s best-in-class technology that enables users to transform data into insights, and we are thrilled to support Alteryx as it continues to push the industry forward with generative AI and machine learning SaaS technologies, as well as its growing portfolio of cloud-connected offerings.”

“Insight first met Dean in 2006. After witnessing Alteryx’s evolution into a data prep and analytics leader, our partnership began in 2014, coinciding with Alteryx’s expansion into new verticals and the development of a top-tier product,” said Deven Parekh and Ryan Hinkle, each a Managing Director at Insight Partners. “Alteryx’s success stands as a testament to their visionary founder’s exceptional ability in shaping the future of software and technology – a journey Insight takes great pride in being a part of. We’re looking forward to opening this new chapter with Alteryx as they advance into the next phase of their growth journey, focusing on cloud and AI/ML to create winning products.”

Transaction Details

The transaction, which was approved and recommended by an independent Special Committee of Alteryx’s Board of Directors and then approved by Alteryx’s Board of Directors, is expected to close in the first half of 2024, subject to customary closing conditions and approvals, including approval by Alteryx stockholders and the receipt of required regulatory approvals. Mr. Stoecker holds approximately 49% of Alteryx’s voting power and has entered into a customary voting agreement to support the transaction. The transaction is not subject to a financing condition or a “majority of the minority” stockholder vote.

Upon completion of the transaction, Alteryx’s common stock will no longer be listed on any public stock exchange.

Advisors

Qatalyst Partners is serving as exclusive financial advisor, and Wilson Sonsini Goodrich & Rosati, Professional Corporation and Fenwick & West LLP are serving as legal advisors to Alteryx.

Houlihan Lokey, Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC are serving as financial advisors to Clearlake and Insight.

Sidley Austin LLP is serving as legal advisor to Clearlake.

Willkie Farr & Gallagher LLP is serving as legal advisor to Insight.

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