Data visualization firm Qlik sells for US$3 billion

The business intelligence firm has been exploring a sale this year

Qlik, a vendor of data visualization tools, has agreed to be acquired by private equity investment firm Thoma Bravo for US$3 billion.

The sale will give Qlik "additional flexibility" to operate, Lars Björk, the company's CEO, said in a statement.

Qlik is touted as a software package for business intelligence needs, with some customers saying it has strong data modeling features. Qlik offers what it calls "self-service" data visualization and discovery, with customer able to build custom charts based on their data needs.

Qlik's board of directors has unanimously approved the sale, for $30.50 per share, the company said Thursday. Qlik's stock was trading at $30.18 early Thursday. The sale price reflects a 40 percent increase from Qlik's stock price before March 3.

Earlier this week, Qlik's stock dropped after reports of a possible takeover by Thoma Bravo. Earlier this year, facing pressure from activist hedge fund Elliott Management, Qlik began working with investment bank Morgan Stanley to explore a sale.

In addition to guided analytics tools, Qlik offers an external data feed service. The company also offers a consulting service and training packages.

Qlik "blends best-in-class associative analytics and visualizations with data governance, scalability and interoperability," Seth Boro, a managing partner at Thoma Bravo, said in a statement.

Thoma Bravo, with offices in Chicago and San Francisco, has investments in several tech companies, including IBM mainframe optimization company Compuware, digital certificate company DigiCert, and enterprise content management software vendor Hyland Software.

The sale is expected to close in the third quarter. Qlik will keep its corporate headquarters in Radnor, Pennsylvania, and its existing executive team is expected to stay there.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?