New Investor, Major Funding for Data Firm Qlik

US-based investor Thoma Bravo has agreed to sell a 'significant minority' stake in data and analytics firm Qlik to the Abu Dhabi Investment Authority (ADIA). Together with new investment from Thoma Bravo and other firms the transaction should help accelerate Qlik's already rapid growth.

Qlik's data management and analytics platform brings together organizational data from a wide array of sources, enabling people at any skill level to uncover new insights and analyze customer behavior. The firm's solutions include the AI-focused Qlik Talend Cloud and unstructured data querying tool Qlik Answers. Thoma Bravo, which will remain its majority shareholder, acquired Qlik in an all-cash transaction valued at approximately $3.0 billion, since when it has grown both organically and through no fewer than fourteen acquisitions, including data preparation specialist Podium and data integration and management software solutions provider Attunity.

Over more than two decades Thoma Bravo has acquired or invested in more than 490 companies representing around $265 billion in enterprise value, including insight and analytics firms Medallia, UserTesting and User Zoom, J.D. Power, Deltek and Keynote.

ADIA was established in 1976 to invest funds on behalf of the Government of Abu Dhabi, with a focus on long-term value creation.

Qlik CEO Mike Capone comments: 'We look forward to accelerating Qlik's impact in the era of AI and welcome ADIA into our next phase of growth. Our team has seized the AI opportunity, grounded in a commitment to strong partnerships, customer success, and solutions that drive real competitive advantage. These principles have fueled our growth and enabled us to deliver meaningful, tangible value from data and analytics'.

Mike Hoffmann, Partner at Thoma Bravo adds: 'As companies across global markets increasingly recognize the value of data integration, data quality, and analytics in realizing AI's potential, we anticipate sustained acceleration in demand for these foundational technologies. Our investment reflects the strong tailwinds behind these solutions'.

The transaction is subject to regulatory approvals and customary closing conditions and is expected to close early next year.

Qlik is based in King of Prussia, PA and is online at www.qlik.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.