Backed by a reported $1 billion investment from a Middle Eastern fund, King of Prussia’s Qlik plans on fueling growth using strategic acquisitions and artificial intelligence, writes Ryan Mulligan for the Philadelphia Business Journal.
The data analytics company went private in 2016, when Chicago-based Thoma Bravo acquired the company in a deal valued at around $3 billion. Now, Thoma Bravo has sold a “significant minority stake” in the Montgomery County company to a subsidiary of the Abu Dhabi Investment Authority.
The deal, which valued Qlik at around $10 billion, includes an additional equity investment from Thoma Bravo, the company’s majority shareholder.
“It really positions us well in the market with such a huge opportunity in front of us to have two world-class investors behind us like Thoma Bravo and ADIA,” said Qlik CFO Dennis Johnson. “There’s really nothing more that we could ask for.”
He stated that the investment will further support Qlik’s growth strategy, which has already proven to be successful for the company. Since going private, the company has made 14 acquisitions, and is already planning further mergers and acquisitions to continue to expand its offerings.
Read more about Qlik in the Philadelphia Business Journal.
