SAN FRANCISCO, CA, and PHILADELPHIA, PA — Thoma Bravo has announced an agreement to sell a significant minority stake in Qlik® to a subsidiary of the Abu Dhabi Investment Authority (ADIA). Despite the sale, Thoma Bravo will retain its position as the majority shareholder and plans to make a fresh equity investment in Qlik. A consortium of other investors will join ADIA and Thoma Bravo in this venture, reinforcing Qlik’s position as a leader in AI solutions.
Thoma Bravo has significantly contributed to Qlik’s growth since taking the company private, supporting 14 strategic acquisitions and substantial R&D investments. Qlik’s offerings cater to various sectors, including healthcare, finance, retail, and the public sector, enabling organizations to synthesize and act on data effectively.
The launch of Qlik Talend® Cloud and Qlik Answers™ highlights the company’s commitment to advancing AI capabilities by providing businesses with comprehensive data solutions. These platforms enhance data reliability and offer insights into unstructured data, facilitating informed decision-making.
Mike Capone, CEO of Qlik, expressed excitement about the new phase of growth with ADIA, stating, “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.”
Seth Boro, Managing Partner at Thoma Bravo, emphasized the continued collaboration with Qlik, saying, “It has been a pleasure to work alongside Mike and the Qlik team to establish it as a leader in data integration, data quality, analytics, and AI. We are thrilled to continue this journey alongside Qlik, and now with ADIA, to drive further innovation.”
Mike Hoffmann, Partner at Thoma Bravo, highlighted the growing demand for Qlik’s technologies, remarking, “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.”
Financial and legal advisories for the transaction are being provided by Guggenheim Securities LLC and Kirkland & Ellis LLP for Thoma Bravo and Qlik, and by Evercore and Gibson, Dunn & Crutcher LLP for ADIA. The transaction is subject to regulatory approvals and customary closing conditions, with completion expected in the first quarter of 2025.
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