Private equity firms Santa Monica-based Clearlake Capital Group LP and Insight Partners are acquiring Irvine-based cloud platform company Alteryx Inc. in a $4.4 billion deal, including debt, which is expected to close in the first half of the year. 

Alteryx currently trades on the New York Stock Exchange under the symbol “AYX” and will become a privately traded company upon the deal’s closure. Under the deal’s terms, Alteryx shareholders will receive $48.25 for each share of Alteryx Class A or Class B common stock that they own.

Clearlake co-founder Behdad Eghbali said in a statement that his firm is excited to support Alteryx as it continues to grow the software industry with its generative artificial intelligence and machine learning technology. 

“As organizations become increasingly data driven and focused on utilizing AI technology, we see a tremendous growth opportunity for Alteryx’s new AI products and feature-rich cloud solutions and to further its reputation as an innovator in the data preparation and data analytics markets,” Eghbali said. “We believe Clearlake’s sector expertise and (operational value enhancement) framework for supporting company growth, coupled with Alteryx’s talented team and impactful mission, is a winning formula for enterprises looking to use data to improve and scale their businesses.”

Alteryx will be the newest addition to the approximately 31 software and technology companies currently in Clearlake’s portfolio, which includes West Hollywood-based InvestCloud Inc., Santa Monica-based Cornerstone OnDemand Inc. and Irvine-based Kofax Inc. The private equity firm is also an owner of the Premier League’s Chelsea Football Club. 

“This transaction will provide increased working capital and industry expertise, and the flexibility as a private company…We are excited to partner with Clearlake and Insight for the next stage of Alteryx’s journey,” Alteryx Chief Executive Mark Anderson said in a statement.