Qlik secretly signs up for an IPO

Qlik secretly signs up for an IPO

Qlik announced this morning that it has secretly submitted a draft registration statement with the U.S. Securities and Exchange Commission, indicating its intention to go public.

The company was founded in Lund, Sweden as QlikTech in 1993, and is now based in King of Prussia, Pennsylvania in the USA, a suburb of Philadelphia. When founded, it was one of three companies in the then wave of business intelligence (BI) companies with a focus on BI self-service and data visibility. The others, Spotfire and Tableau, were acquired by Tibco and Salesforce in 2007 and 2022, respectively. The company's original offering was a Windows - based QlikView BI solution. In the previous decade, the company moved to a newer, web - based Qlik Sense.

There has been a lot of consolidation in the BI space of recent times, with many real plays, including the two mentioned, being acquired by major enterprise software companies, cloud providers, and the like. . Qlik, meanwhile, remained independent until 2022, when it was bought by private equity group Thoma Bravo, who gave it privately. From there, the company has built its business through its own acquisition, including Podium Data in 2022, Attunity in 2022, and Big Squid automated machine learning provider in 2022, leading to products including Qlik Data Integration, Qlik Replicate, Qlik Compose, and Qlik AutoML.

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With these advantages and other properties, Qlik has tried to move beyond pure BI and enter the realm of data warehouse automation, data management, and AI, as well. In doing so, it has built up a stack that is meant to compete with its biggest competitors or the companies that have acquired the smallest ones. The move toward more complete stacks and capability sets reflects how the database, big data analysis, BI, and AI locations have come together. This shift of more comprehensive data and analytics solutions is driven by the cloud and digital transformation. It addresses the common need for end-to-end implementation including data integration, analytics, and machine learning.

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The number of shares to be offered and the price range for Qlik's proposed IPO have not yet been confirmed. The company says it intends to finalize its public offering following the SEC review process, "subject to market and other conditions."

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