Two of the major data analytics software companies, Snowflake and Alteryx, announced M&A transactions during the week of December 18th.
December 21, 2023
Solganick & Co. sees continued M&A demand for fast growing data analytics and AI software and IT services firms that provide automated applications and processes to the cloud. Two transactions were announced in the data analytics sector this week..
Snowflake has entered into a definitive agreement to acquire Samooha to accelerate our vision for removing the technical, collaboration, and financial barriers to unlocking value with data clean rooms. Samooha is built for developers and business users and delivers industry specific analysis templates. Samooha’s intuitive user interface makes it easy to build data clean rooms that run as Snowflake Native Apps in the Data Cloud.
Building a data clean room from the ground up can be challenging and require technical expertise and significant investment. By prioritizing ease of use, Samooha dramatically speeds up data clean room set-up and reduces complexity, making the decision to use data clean rooms an easy one. And because Samooha runs directly in the Data Cloud, Samooha leverages the built-in security and governance capabilities of Snowflake, which ensures that customer data is secure and governed.
With this acquisition, Samooha’s co-founders and data privacy experts — CEO Kamakshi Sivaramakrishnan and CTO Abhishek Bhowmick — will both join the Snowflake team along with other Samooha employees.
Samooha, meanwhile, gets an undisclosed amount of cash and/or stock in addition to the support of Snowflake’s massive technical and engineering infrastructure. All 19 Samooha employees including CEO Kamakshi Sivaramakrishnan and co-founder Abhishek Bhowmick will be joining Snowflake in some capacity.
Los Altos-based Samooha, which Sivaramakrishnan and Bhowmick co-founded in 2022, competes in an increasingly crowded data clean room field. AWS has a data clean room product, as do startups like Herb. But Samooha’s differentiated by its heavy reliance on the Snowflake ecosystem; Snowflake, unsurprisingly, was an early investor.
A native app on Snowflake, Samooha provides a no-code UI customers can use to access and build clean room apps. The company went after verticals it believed might be especially underserved, like healthcare, financial services, advertising, retail and entertainment — and claimed to count several Fortune 500 brands in its customer base.
Buoyed by that customer acquisition momentum, Samooha raised $12.5 million from investors, including Altimeter Capital, prior to the acquisition — valuing the startup at around $40 million post-money.
You can view the news announcement on the Snowflake website here:
https://www.snowflake.com/blog/snowflake-to-acquire-samooha/
Snowflake has announced 5 acquisitons in 2023, including most recently Ponder, boosting Python capabilities in the data cloud. Here is are the others…
 Samooha | Dec 18, 2023 | Samooha acquired by Snowflake | |
 Ponder | Oct 23, 2023 | Ponder acquired by Snowflake | |
 Neeva | May 24, 2023 | Neeva acquired by Snowflake | |
 LeapYear Technologies | Feb 7, 2023 | LeapYear Technologies acquired by Snowflake | |
 SnowConvert | Jan 19, 2023 | SnowConvert acquired by Snowflake |
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Alteryx acquired by PE firms Clearlake Capital and Insight Partners in a take private transaction
Alteryx, Inc. (NYSE: AYX), the Analytics Cloud Platform company, today announced that it has entered into a definitive agreement to be acquired by Clearlake Capital Group, L.P. (together with certain of its affiliates, “Clearlake”) and Insight Partners (“Insight”), two global private equity firms, in a transaction valued at $4.4 billion, including debt. Upon completion of the transaction, Alteryx will become a privately held company.
About Alteryx
Alteryx (NYSE: AYX) powers analytics for all with the award-winning Alteryx Analytics Cloud Platform. With Alteryx, enterprises can make intelligent decisions across their organizations with automated, AI-driven insights. More than 8,000 customers globally rely on Alteryx to democratize analytics across use cases and deliver high-impact business outcomes. To learn more, visit http://www.alteryx.com.
You can view the full press release on the Alteryx website here: https://www.alteryx.com/about-us/newsroom/press-release/alteryx-enters-into-definitive-agreement-to-be-acquired-by-clearlake-capital-group-and-insight-partners-for-4-4-billion
About Solganick & Co.
We are a data-driven investement bank and M&A advisory firm focused exclusively on the cloud, data analytics and digital transformation sectors within software and IT services. For more information or to inquire about an M&A transaction, please contact us.
Note: Solganick did not advise any company listed in this article.
Sources: Snowflake and Alteryx websites.
