Alteryx, which transitioned to a subscription-focused business model and expanded its AI-powered feature offerings, now serves over 8,300 companies including Coca-Cola, Vodafone, Walmart, and Ford. The company generated $232 million in sales last fiscal quarter, up 8% from the same time a year ago, and its annualized recurring revenue grew nearly three times as fast in the same time frame, jumping roughly 21% to $914 million.
Key takeaways:
- Alteryx, a software company based in Irvine, California, has agreed to be acquired by private equity firms Clearlake Capital Group and Insight Partners in a deal worth $4.4 billion.
- The deal, which includes debt, values Alteryx’s equity at around $3.46 billion, a 29.1% premium over the company’s closing share price on Friday. The acquisition is expected to close in the first half of 2024.
- Alteryx, which transitioned to a subscription-focused business model and expanded its AI-powered feature offerings, now counts more than 8,300 companies as its customers, including Coca-Cola, Vodafone, Walmart and Ford.
- The company generated $232 million in sales last fiscal quarter, up 8% from the same time a year ago, and its annualized recurring revenue grew nearly three times as fast in the same time frame, jumping roughly 21% to $914 million.