M&A Deal Summary

Thoma Bravo and ADIA Acquire Qlik

On June 2, 2016, private equity firm Thoma Bravo and sovereign wealth fund ADIA acquired software company Qlik for 3.0B USD

Acquisition Highlights
  • This is Thoma Bravo’s 21st and ADIA’s 1st transaction in the Software sector.
  • This is Thoma Bravo’s 13th and ADIA’s 5th largest (disclosed) transaction.
  • This is Thoma Bravo’s 50th and ADIA’s 1st transaction in the United States.
  • This is Thoma Bravo’s 4th and ADIA’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2016-06-02
Target Qlik
Sector Software
Buyer(s) Thoma Bravo
ADIA
Deal Type Going Private
Deal Value 3.0B USD
Advisor(s) Morgan Stanley (Financial)
Skadden, Arps, Slate, Meagher & Flom
Gunderson Dettmer (Legal)

Target

Qlik

King of Prussia, Pennsylvania, United States
Qlik provides visual analytics software with a portfolio of products that meets customers’ growing needs from reporting and self-service visual analysis to guided, embedded, and custom analytics. It provides information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Qlik was founded in 1993 and is based in King of Prussia, Pennsylvania.

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Buyer(S) 2

Buyer

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.

DEAL STATS #
Overall 51 of 140
Sector (Software) 21 of 59
Type (Going Private) 15 of 39
State (Pennsylvania) 4 of 7
Country (United States) 50 of 120
Year (2016) 2 of 7
Size (of disclosed) 13 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-12 Vision Solutions

Irvine, California, United States

Vision Solutions is a provider of information availability software and services for Windows, Linux, IBM Power Systems and Cloud Computing markets. Vision Solutions was founded in 1990 and is based in Irvine, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-07 Elemica

Wayne, Pennsylvania, United States

Elemica is a Digital Supply Network for the process manufacturing industries. Elemica accelerates digital transformation by connecting, automating, anticipating, and then transforming inter-business supply chain processes for the products they buy, sell, move, and comply. Elemica was founded in 2000 and is based in Wayne, Pennsylvania.

Buy -
Buyer

ADIA

Category Sovereign Wealth Fund
Founded 1976
PE ASSETS 875.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

DEAL STATS #
Overall 2 of 13
Sector (Software) 1 of 1
Type (Going Private) 1 of 3
State (Pennsylvania) 1 of 1
Country (United States) 1 of 6
Year (2016) 1 of 2
Size (of disclosed) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-13 Domestic & General

London, United Kingdom

Domestic & General is a specialist provider of extended warranty plans for domestic appliances and consumer electronic products. Domestic & General Group was formed in 1912 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-08 Dedalus

Florence, Italy

Dedalus is a health software provider that develops and distributes software systems for general practitioners and primary care pediatricians in the health care industry. Dedalus was formed in 1990 and is based in Florence, Italy.

Buy -
Mergr

Product

Company

Legal