Software and technology-focused private equity firm Thoma Bravo has agreed to sell a Qlik minority stake to a subsidiary of the Abu Dhabi Investment Authority (ADIA), in a deal that values the data analytics company at $10bn.
Thoma Bravo will retain majority ownership and plans an additional equity investment in the company.
Since taking Qlik private in 2016, Thoma Bravo has overseen 14 acquisitions for the firm and increased its R&D efforts. A group of investors is expected to participate in the transaction, joining ADIA and Thoma Bravo. The deal is set to close in early 2025, pending regulatory approvals.
Guggenheim Securities and Kirkland & Ellis are advising Thoma Bravo and Qlik, while Evercore and Gibson, Dunn & Crutcher are advising ADIA.
