Abu Dhabi Investment Authority (ADIA) has signed an agreement to acquire a minority stake in US software company Qlik from Thoma Bravo.
The transaction values Qlik at $10bn, with ADIA’s stake reportedly worth $1bn, according to the Financial Times.
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Thoma Bravo will remain the majority shareholder and plans to make a new equity investment in the company.
Other investors are expected to invest in Qlik alongside ADIA and Thoma Bravo.
Qlik offers solutions that transform complex data landscapes into actionable insights to drive strategic business outcomes.
The company claims to serve more than 40,000 global customers with a portfolio that includes AI/machine learning, data integration and analytics solutions.
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By GlobalDataQlik’s platform supports data needs across cloud, multi-cloud and on-premises environments.
Since taking Qlik private, Thoma Bravo has collaborated with the company’s leadership to drive growth through 14 acquisitions and research and development investments.
Qlik caters to industries such as healthcare, financial services, retail and the public sector.
Its recent offerings include the Qlik Talend Cloud, which aids in building an AI foundation, and Qlik Answers, designed to enhance unstructured data sources with explainable insights.
Qlik CEO Mike Capone said: “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.”
Thoma Bravo partner Mike Hoffmann said: “As companies across global markets increasingly recognise the value of data integration, data quality and analytics in realizing AI’s potential, we anticipate sustained acceleration in demand for these foundational technologies. Our investment reflects the strong tailwinds behind these solutions.”
The transaction, pending regulatory approvals and customary closing conditions, is expected to close in the first quarter of 2025.
In September, ADIA participated in a $295m funding round for FLYR, a technology company focused on the travel industry.
This funding round was led by WestCap and included contributions from BlackRock, Streamlined Ventures and an ADIA subsidiary.
