Thoma Bravo Buys Qlik Technologies Inc In $3 Billion Deal

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Thoma Bravo Buys Qlik Technologies Inc In $3 Billion Deal

Qlik Technologies, a business that provides business intelligence and visualization software has agreed to be sold to the private equity firm Thoma Bravo in a $3 billion deal.

Qlik

The deal is all cash, and Qlik shareholders will be paid $30.50 for every share owned, which is a 40 percent premium of the 10-day average price prior to March 3. There was unanimous agreement of the deal by the board at Qlik.

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Qlik is headquartered in Radnor, PA and this will remain the main offices following the transaction. The company provides software that helps firms to interpret data for better understanding of business patterns.

Qlik Chief Executive, Lars Björk, said of the deal, “We believe the proposed transaction is in the best interest of Qlik’s shareholders and provides the Company with additional flexibility to execute our strategic plan as we continue to diligently provide customers with the premier products and services they have come to expect.”

Regarding the new owners, he added  “Thoma Bravo recognizes the value that Qlik delivers – a platform that lets our customers see the whole story that lives within their data. Thoma Bravo has an excellent track record of investing in outstanding technology businesses for the long-term, and I am confident our employees, customers and partners will greatly benefit from our partnership with them.”

It had been reported that company was looking for potential buyers back in April, and as well as Thoma Bravo, it is believed that Permira and Bain Capital were assessing the viability of a deal.

Synergies

Orlando Bravo a managing partner at Thoma Bravo stated, “we look forward to partnering with the Qlik team as they continue to grow their platform-based approach to business intelligence (BI) and analytics,” and continued, “as the need for analytic solutions grows, Qlik is well-positioned to continue to drive innovation and lead the market.”

“Qlik’s platform blends best-in-class associative analytics and visualizations with data governance, scalability and interoperability,” stated Seth Boro, another managing partner at the private equity firm. “We are excited by Qlik’s product roadmap and confident that we can apply our experiences working with market-leading software companies to accelerate Qlik’s growth and market share across all geographies.”

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While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. <i>To contact Brendan or give him an exclusive, please contact him at [email protected]</i>

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