Thoma Bravo, a software investment firm, has signed an agreement to sell a significant minority stake in Qlik, a global leader in data integration, data quality, analytics and AI, to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
As part of the terms of the transaction, Thoma Bravo would remain the majority shareholder and would also make a new equity investment in the company. A consortium of other investors is expected to invest alongside ADIA and Thoma Bravo. This transaction reinforces Qlik’s leadership in delivering real-world AI solutions through a flexible, agnostic platform.
Since taking the company private, Thoma Bravo has partnered with the Qlik leadership team to accelerate growth through 14 strategic acquisitions and substantial R&D investments.
Qlik serves customers across a wide range of industries, including healthcare, financial services, retail, and the public sector. Its solutions empower organisations to bring data together, make sense of it, trust it, analyse it and take action.
The recently launched Qlik Talend Cloud enables businesses to build a trusted foundation for AI, while Qlik Answers brings value to proprietary unstructured data sources by generating relevant answers to questions with full explainability. Qlik’s platform supports comprehensive data needs across cloud, multi-cloud and on-premises environments.
“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. These principles have fuelled our growth and enabled us to deliver meaningful, tangible value from data and analytics,” said Mike Capone, CEO of Qlik.
“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,” added Seth Boro, a Managing Partner at Thoma Bravo. “Through a forward-focused strategy and execution, Qlik has become invaluable to enterprises seeking to create more value from their data.”
“As companies across global markets increasingly recognise the value of data integration, data quality, and analytics in realising AI’s potential, we anticipate sustained acceleration in demand for these foundational technologies,” said Mike Hoffmann, partner at Thoma Bravo. “Our investment reflects the strong tailwinds behind these solutions.”
Guggenheim Securities LLC is serving as financial advisor and Kirkland & Ellis LLP is acting as legal advisor to Thoma Bravo and Qlik. Evercore is serving as financial advisor and Gibson, Dunn & Crutcher LLP is serving as legal advisor to ADIA.
The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in Q1 2025.
