Thoma Bravo Acquires Qlik Technologies for $3 Billion

Source: by Reuters, June 2 2016

The company bowed to pressure from Elliott Management Corp.

U.S. data analytics firm Qlik Technologies Inc ( QLIK 0.08% ) agreed to sell itself to private equity firm Thoma Bravo LLC for about $3 billion, bowing to pressure from hedge fund Elliott Management Corp.

Qlik’s shares were up 4.4 percent at $30.26 in early morning trading on Thursday, slightly below the offer price of $30.50 per share.

Hedge fund Elliott Management Corp, which disclosed an 8.8% stake in Qlik in March, had said the company was ripe for being taken over by a larger technology peer.

Qlik joins a long list of companies such as Compuware Corp ( CPWR 0.00% ) , Riverbed Technology Inc ( RVBD 0.00% ) , Blue Coat Systems and, Informatica ( INFA 0.00% ) that have been bought by private equity firms after Elliott started urging them to sell. Some of these companies were sold to Thoma Bravo.

Reuters had reported on Tuesday that Thoma Bravo was preparing to submit a binding bid for Qlik.


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Thoma Bravo Acquires Qlik

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