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THOMA BRAVO BUYING QLIK Featured

Lars Björk, Qlik Technologies Private equity firm Thoma Bravo is buying Qlik Technologies for about $3 billion in cash. The recent announcement of the sale of the Radnor, Pa.-based cloud analytics software company is priced at $30.50 in cash for each share of common stock. The parties said that's a 40-percent premium to the 10-day average stock price of $21.83 per share prior to March 3.

The announcement drew the usual array of law firms saying they are investigating the sale as not being in shareholders' best interests. Always interesting to watch that but a part of me is thinking "And you're going to find someone to beat a 40-percent premium?" Qlik's revenue for the year ended December 31 was $612.7 million, up 10 percent from $556.8 million for 2014. The vendor reported a net loss of $30.5 million last year, an increase 48 percent from red ink of $24.6 million in 2014 but it did get whacked by a $6.9 million-adverse impact of currency. After listening to earnings webcasts over the last couple of years, I had the feeling Qlik just didn't quite benefit on the bottom line as much as you would think from its product line—sort of a prosperity-is-just-around-the-corner feeling about a company that's technology-heavy in operations. Founder and CEO Lars Björk said in a prepared statement, "Thoma Bravo has an excellent track record of investing in outstanding technology businesses for the long-term, and I am confident our employees, customers and partners will greatly benefit from our partnership with them."

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