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Alteryx (AYX) Acquires Trifacta, Boosts Cloud Solutions Footing

·3-min read

Alteryx AYX recently announced that it has entered into a definitive agreement to acquire Trifacta, which is a cloud company focused on leveraging scalable data management and machine learning.

Trifacta offers cloud-first capabilities, helping enterprises navigate through their analytics transformation. As a result, Trifacta gained a strong foothold into Global 2000 enterprises and other large organizations.

The acquisition of Trifacta will help Alteryx anchor and accelerate its footprint in cloud-based solutions and open new categories of buyers across IT within large enterprises.

The buyout will help Alteryx expand its total addressable market, bringing in new opportunities and targeting new data and cloud transformation initiatives for its Global 2000 customers.

Alteryx, Inc. Price and Consensus

Alteryx, Inc. Price and Consensus
Alteryx, Inc. Price and Consensus

Alteryx, Inc. price-consensus-chart | Alteryx, Inc. Quote

Acquisitions to Aid Cloud-Capabilities Business

To bring in more functionality in the cloud and improve data discovery capabilities in its platform, Alteryx has been focusing majorly on mergers and acquisitions over the last few years.

In 2021, Alteryx made two significant acquisitions, which have boosted the top line.
By the end of last year, Alteryx acquired Hyper Anna, a cloud platform that generates AI-driven automated insights from data.

The acquisition is anticipated to help Alteryx automate the end-to-end pipeline from data sources to AI-driven insights.

Around the same time, Alteryx also acquired a Silicon Valley-based collaborative data transformation platform, Lore IO.

The acquisition of Lore IO furnishes Alteryx with the technicalities to leverage cloud-native and elastic compute within the latter’s cloud-computing solutions — Alteryx Machine Learning and Alteryx Designer Cloud.

These buyouts will help Alteryx massively enhance enterprise analytics for cloud data, thereby expanding the company's product portfolio.

Expanding Partner Base Boosts The Top Line

Apart from a series of accretive acquisitions, an expanding partner base has also been a credible growth driver for this analytics automation platform.

Partnerships with the likes of UiPath PATH, Blue Prism, Snowflake SNOW, McLaren Racing, KPMG, PWC, Adobe ADBE and Amazon are helping the company win customers regularly.

Recently, Alteryx extended its strategic partnership with the automation software company, UiPath.

Apart from the extended partnership, UiPath also integrated a new connector as part of Alteryx’s new product, the Alteryx Analytic Process Automation (APA) Platform.

Alteryx APA combined with UiPath Robotic Process Automation (RPA) to simplify the process of digital transformation, helping organizations modernize their infrastructures.

In 2021, Alteryx announced its partnership with the data cloud company, Snowflake.

The Snowflake partnership allows Alteryx to leverage the former’s compute, elastic scaling and secure data sharing capabilities to provide customers with automated data pipelining, faster data processing and accelerated analytics outcomes at scale.

As part of the partnership, Alteryx has become an Elite partner in the Snowflake Partner Network.

Alteryx also partnered with Adobe to provide marketers access to new analytics and data science solutions through Adobe Exchange.

The Alteryx APA and the Adobe Experience Platform, together, help organizations to automate marketing analytics, thus achieving fast analytics-driven outcomes.

Alteryx is benefiting from an expanding clientele, driven by increasing demand for a self-service data science and analytics platform.

Improved awareness of the company’s brands and solutions, particularly among Global 2000 clients, is expected to expand the customer base in the near term.

In third-quarter 2021, the company had 7,689 customers, up 11% year over year.

Currently, Alteryx has a Zacks Rank #3 (Hold).

The company’s shares have declined 50.3% compared with the Zacks Internet Software industry’s plunge of 30.4% and the Computer and Technology sector’s return of 17.5% in the past year.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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