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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THOMA BRAVO BUYING QLIK Featured
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.
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