Alteryx, an analytics automation company, announced that it had acquired Trifacta, a cloud company that leverages scalable data management and ML to make data analytics faster and more intuitive.

Trifacta offers cloud-first capabilities to enable enterprises to drive their analytics transformation and has a strong footprint into Global 2000 and large enterprises. This acquisition will accelerate Alteryx’s journey to the cloud and open new categories of buyers across IT within large enterprises.

Mark Anderson, CEO, Alteryx, said, “Trifacta brings cloud-first engineering, product and go-to-market teams with combined experience building and bringing to market mission-critical, cloud native analytics solutions. Trifacta and Alteryx together can expand the market with opportunities to target new data and cloud transformation initiatives for Global 2000 customers”.

Trifacta provides cloud data management capabilities for major cloud deployments like 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.

Trifacta CEO Adam Wilson said, “We are excited to join Alteryx to create the industry’s leading independent cloud analytics provider. Together, we can 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. 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 then, each company will continue to operate independently. 

Also read  – Alteryx to Acquire Trifacta to Accelerate Cloud Strategy