Data analytics software maker Alteryx Inc. (NYSE: AYX) in Irvine has acquired Silicon Valley-based Lore IO, maker of a platform for analytics that easily adapt to changing business environments. No financial details were released.
“Integrating Lore IO’s technology and talent aligns with our ambitious innovation agenda to allow enterprises to unlock the value of their data, uncovering business insights no matter how complex their datasets are or where the data resides,” said Alteryx Chief Executive Officer Mark Anderson.
Shares in Alteryx fell 2.3% to $73.07 apiece for a market cap of $4.9 billion after the announcement.
“Integration of the Lore IO team brings important skills for cloud-native analytic compute optimization and in-database processing, helping Alteryx customers tame big data to extract enterprise value,” Alteryx said.
Investor website Tracxn.com said Lore IO has $3 million in total funding from a series A round that took place in 2018.