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.
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.
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.
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.”