Alteryx Agrees to Buy Data Analytics Software Firm Trifacta For $400 Million
Summary
Alteryx Inc. has agreed to acquire Trifacta, a cloud-based data-wrangling software company, for $400 million in cash, as the company looks to provide enterprises with an enhanced cloud-based data analytics tool that will support their digital transformation efforts. Trifactas open and interactive platform helps enterprises manage and analyze large data sets in a timely and scalable way, Alteryx said. Alteryx will combine its low- to no-code analytics automation platform with Trifactas cloud-native capabilities to support enterprise customers analytics needs, whether it be on-premises, hybrid or solely in the cloud, it said. The acquisition will also help open new categories of buyers across information technology departments within large enterprises, Alteryx said. Alteryx will set up a retention pool of $75 million that will be granted as restricted stock units to former Trifacta employees, it said The company now expects revenue for the fourth quarter to be at or above the high end of its previous guidance range of $163 million to $168 million.
