Exclusive: Business software company Alteryx explores sale
Summary
Sept 6 (Reuters) - Alteryx Inc (AYX.N), a data analytics software company with a market value of $2.5 billion, has been working with an investment bank to explore a potential sale after attracting takeover interest, according to people familiar with the matter. The Irvine, California-based company is being advised by investment bank Qatalyst Partners on its discussions with potential acquirers, which include private equity firms, the sources said. Insight Partners, an early investor in Alteryx which has retained a 1.5% stake in the company and representation on its board of directors, has recused itself from the sale deliberations because of its interest as a potential acquirer, one of the sources said. Expressions of interest that Alteryx has received thus far have not met its valuation expectations, and the company may decide against any transaction, the sources said, requesting anonymity because the matter is confidential. In recent years, Alteryx has transitioned to a subscription-focused business model as part of a strategy to tap into growing demand for data analytics services.
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