Extra tags: data analytics
Alteryx, Inc., the Analytics Automation company, has announced that it has reached a definitive agreement to acquire Trifacta, an award-winning cloud startup that uses scalable data management and machine learning to make data analytics more intuitive and faster.
Enterprise customers deploy modern data architectures built upon cloud data warehouses and support SaaS-based applications and analytics. Meanwhile, business users' appetite for timely insights from these large cloud datasets to fuel their digital transformation efforts is at an all-time high, thus driving the need for scalable, secure solutions to access and automate data analysis.
Trifacta, which has a strong presence in the Global 2000 and large companies, delivers cloud-first capabilities to assist enterprises drive their analytics transformation. Alteryx's journey to the cloud will be anchored and accelerated by this acquisition, which will open up new buyer categories across IT within large companies.
"Trifacta brings highly skilled cloud-first engineering, product and go-to-market teams with decades of combined experience building and bringing to market mission-critical, cloud native analytics solutions. Together, Trifacta and Alteryx expand our total addressable market with additional opportunities to target new data and cloud transformation initiatives for Global 2000 customers," said Mark Anderson, CEO of Alteryx. "With Trifacta, our combined cloud platform will serve the needs of entire enterprises from data analytics teams and IT/technology teams to line of business users."
Trifacta provides proven, scalable cloud data management capabilities natively and securely for major cloud deployments, including Google Cloud Platform (GCP), Amazon Web Services (AWS) and Microsoft Azure. Alteryx intends to combine its leading low code/no code analytics solution with Trifacta's cloud native capabilities to offer flexible deployment options — on-premises, hybrid and cloud — to meet enterprise customers' analytics needs.
"We're incredibly excited to join forces with Alteryx to create the industry's leading independent cloud analytics provider," said Adam Wilson, CEO of Trifacta. "Together, we have the opportunity to enable thousands of customers globally to unlock powerful business insights with the combination of Trifacta's Data Engineering Cloud and Alteryx's Analytics Automation platform."
Alteryx will acquire Trifacta for $400 million in cash, subject to customary purchase price adjustments. Alteryx will also establish a retention pool of $75 million to be granted in the form of restricted stock units to the former employees of Trifacta. The transaction is expected to close during the first quarter of 2022 and is subject to customary closing conditions. Until the transaction closes, each company will continue to operate independently. Goldman Sachs is serving as the exclusive financial advisor to Alteryx and J.P. Morgan is serving as the exclusive financial advisor to Trifacta in connection with the transaction. Fenwick & West is serving as Alteryx's legal counsel and Gunderson Dettmer is serving as Trifacta's legal counsel in connection with the transaction.
