Qlik, a leading visual analytics firm, has entered into a definitive agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC. The deal was announced this week and involves an all-cash transaction valued at approximately $3 billion. The agreement was unanimously approved by Qlik’s board of directors.

Radnor, PA-based Qlik provides products for self-service data visualization and guided analytics. Qlik will maintain its corporate headquarters in Radnor, and be led by its existing executive team, the firm announced. 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.

“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,” said Lars Björk, chief executive officer of Qlik. “Thoma Bravo recognizes 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,” said 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 visualizations with data governance, scalability and interoperability,” said 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 is a leader in visual analytics, and has approximately 39,000 customers. It has offices around the world with more than 1,700 partners covering more than 100 countries.

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