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Tech-focused PE firm Thoma Bravo to acquire Qlik in USD3bn deal

Thoma Bravo, a private equity firm with a focus on application and infrastructure software and technology enabled services, is to acquire Qlik, a specialist in visual analytics software and provider of solutions for self-service data visualization and guided analytics.

Under the terms of the all-cash transaction, which values Qlik at approximately USD3.0 billion and was unanimously approved by Qlik's board of directors, Qlik shareholders will receive USD30.50 in cash for each share of Qlik common stock they hold. This price represents a premium of 40 per cent to the Company's unaffected 10 day average stock price prior to 3 March, 2016 of USD21.83.

"We believe the proposed transaction is in the best interest of Qlik's shareholders and provides the Company with additional flexibility to execute our strategic plan as we continue to diligently provide customers with the premier products and services they have come to expect," says Lars Björk, Chief Executive Officer of Qlik. "Thoma Bravo recognises the value that Qlik delivers – a platform that lets our customers see the whole story that lives within their data. 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."

"We look forward to partnering with the Qlik team as they continue to grow their platform-based approach to business intelligence (BI) and analytics," says Orlando Bravo, a managing partner at Thoma Bravo. "As the need for analytic solutions grows, Qlik is well-positioned to continue to drive innovation and lead the market."

"Qlik's platform blends best-in-class associative analytics and visalisations with data governance, scalability and interoperability," says Seth Boro, a managing partner at Thoma Bravo. "We are excited by Qlik's product roadmap and confident that we can apply our experiences working with market-leading software companies to accelerate Qlik's growth and market share across all geographies."

Qlik will maintain its corporate headquarters in Radnor, Pennsylvania and continue to service its customers globally led by its existing executive team. The proposed transaction is expected to close in the third quarter of 2016, subject to approval by Qlik's shareholders and regulatory authorities and the satisfaction of customary closing conditions.

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