Leading private equity investment firm, Thoma Bravo LLC, is acquiring visual analytics leader, Qlik Technologies, in an all-cash transaction valued at approximately US$3 billion that has been approved unanimously by Qlik’s board of directors.
Qlik shareholders are to receive US$30.50 for each share of Qlik common stock they hold, representing a premium of 40 per cent to the company’s unaffected 10-day average stock price of US$21.83 prior to March 3, 2016.
Qlik’s executive team will stay in place and the company will maintain its corporate headquarters in Radnor, Pennsylvania to serve its global customer base.
“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,” said Lars Björk, CEO, Qlik.
“Thoma Bravo recognises the value that Qlik delivers – a platform that lets our customers see the whole story that lives within their data,” said Björk. “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,” he said.
This transaction, scheduled to close in the third quarter, is the latest in a long series of software firm acquisitions by Thoma Bravo, most recently Infogix in January and Solarwinds in February, following earlier high-profile acquisitions including Riverbed and Dynatrace.
“We look forward to partnering with the Qlik team as they continue to grow their platform-based approach to business intelligence and analytics,” said Orlando Bravo, a managing partner at Thoma Bravo. “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 visualisations with data governance, scalability and interoperability,” said Seth Boro, a managing partner at Thoma Bravo. “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.”