Alteryx, a prominent Analytics Cloud Platform company, has announced its agreement to be acquired by private-equity firms Clearlake Capital Group and Insight Partners in a deal valued at $4.4 billion, inclusive of debt.
Under the terms of the acquisition, shareholders of Alteryx will receive $48.25 in cash for each share of Alteryx Class A or Class B common stock they possess. This acquisition will result in Alteryx transitioning from a publicly traded entity to a privately held company upon the completion of the transaction.
During the third quarter of 2023, Alteryx recorded revenue amounting to $232 million, reflecting an 8 percent increase compared to the same period in 2022, when the revenue stood at $215 million.
Alteryx reported a net loss of $50 million for the third quarter of 2023. This is a notable improvement from the net loss of $75 million reported during the third quarter of 2022.
Looking ahead, Alteryx has projected its revenue for 2023 to fall within the range of $953 million to $959 million. This estimate represents a growth rate of 11 percent to 12 percent compared to the previous year. Additionally, Alteryx anticipates its Annual Recurring Revenue (ARR) for 2023 to be in the range of $942 million to $948 million, reflecting a year-over-year growth rate of 13 percent to 14 percent.
