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Email to Qlik Employees
I am pleased to share with you today some exciting news about the future of Qlik, and our plans to begin the next chapter in our incredible journey. And I have no doubt that our future will be bright, and filled with exciting new opportunities and challenges.
Today we announced we have entered into an agreement to be acquired by Thoma Bravo, a leading technology-focused private equity firm. You can read today’s press release (http://investor.qlik.com/releasedetail.cfm?ReleaseID=973980) and please plan to attend a Town Hall with me and members of the X Team later this morning. A separate invitation will be sent shortly.
With a purchase price of $30.50 per share, Qlik is valued at approximately $3.0 billion, which demonstrates the tremendous value we have created together over the past several decades. As with transactions of this nature, the agreement is subject to stockholder approval, certain regulatory approvals and other customary closing conditions. With the closing of this transaction we will become a private company, which we expect to occur in the third quarter of 2016.
This is a major milestone in our efforts to grow our business and build upon the great foundation we’ve created together. Going private will position us exceptionally well and gives us added flexibility to continue to develop industry-leading solutions and products to our customers – which will help us continue to grow as a company.
Thoma Bravo is one of the most experienced and successful private equity firms in the United States, providing financial, strategic and operating support to businesses and their management teams. They are deeply knowledgeable about our industry and recognize the value that Qlik delivers– a platform that lets our customers see the whole story that lives within their data.
Throughout this process, the X team and I have come to know the Thoma Bravo team well, and we are fully confident that they are the right partner for Qlik both strategically and culturally. They have the highest praise for our team members, our innovation and the reputation we’ve earned in the market. They are now eager to partner to achieve even greater success.
I know there are questions about what this means for you and the future of Qlik going forward. While we will seek to answer all of your questions in the coming days and weeks, what’s most important now is that we move forward as one team, appreciate the incredible opportunity ahead of us.
What makes Qlik special is not going away nor are our business drivers: to win new business, expand our operating margin and accelerate profitability. Please share your enthusiasm and reassure our customers, partners and all stakeholders that Qlik is creating value for the long term and today’s news is just another step in our ongoing journey.
Thanks for your continued commitment. I am especially proud that this team has not been distracted by the media speculation over the past several months. You have continued to deliver with both focus and results.
Now let’s build the next exciting chapter together!