OREANDA-NEWS. August 18, 2016.
Qlik (NASDAQ:QLIK) (the "Company"), a leader in visual analytics
delivering intuitive solutions for self-service data visualization and
guided analytics, today announced that, at a Special Meeting of
Shareholders held on
August 17, 2016, the holders of more than 77.50% of
its shares voted to approve the adoption of the agreement pursuant to
which leading private equity investment firm
Thoma Bravo, LLC will
acquire
Qlik.
With the shareholder vote complete, all approvals required to complete
the transaction have been received and the transaction is expected to
close on August 22, 2016. Upon closing, Qlik shareholders will be
entitled to receive \\$30.50 in cash for each share of Qlik common stock
they hold.
Lars Bj?rk, Chief Executive Officer of Qlik, stated, "We believe our
partnership with Thoma Bravo represents a tremendous opportunity to
further expand upon our platform-based approach to business intelligence
(BI) and analytics and will also provide significant benefits to our
customers and employees. We are excited to close the transaction and
work with Thoma Bravo on our next chapter of innovation and growth."
Morgan Stanley & Co. LLC served as exclusive financial advisor to Qlik
and Skadden, Arps, Slate, Meagher & Flom LLP and Gunderson Dettmer
Stough Villeneuve Franklin & Hachigian, LLP served as its legal
advisors. Goldman, Sachs & Co. served as exclusive financial advisor to
Thoma Bravo and Kirkland & Ellis LLP served as its legal advisor. Ares
Capital Corporation is serving as the administrative and collateral
agent, joint lead arranger and joint bookrunner for the \\$1.075 billion
unitranche credit facility in support of the acquisition. Ares Capital
Management is leading the syndication. Additional joint lead arrangers
include Golub Capital LLC, TPG Specialty Lending, Inc. and Varagon
Capital Partners, LP.
About Qlik
Qlik (NASDAQ:QLIK) is a leader in visual analytics. Its portfolio of
products meets customers' growing needs from reporting and self-service
visual analysis to guided, embedded and custom analytics. Approximately
40,000 customers rely on Qlik solutions to gain meaning out of
information from varied sources, exploring the hidden relationships
within data that lead to insights that ignite good ideas. Headquartered
in Radnor, Pennsylvania, Qlik has offices around the world with more
than 1,700 partners covering more than 100 countries.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a
30+ year history of providing equity and strategic support to
experienced management teams and growing companies. The firm seeks to
create value by collaborating with company management to improve
business operations, invest in growth initiatives and make accretive
acquisitions. Thoma Bravo invests with a particular focus on application
and infrastructure software and technology enabled services. The firm
currently manages a series of private equity funds representing more
than \\$16.0 billion of equity commitments. More information about Thoma
Bravo can be found at www.thomabravo.com.
Cautionary Statement Regarding Forward-Looking Statements
All of the statements in this release, other than historical facts, are
forward-looking statements made in reliance upon the safe harbor of the
Private Securities Litigation Reform Act of 1995, including, without
limitation, the statements made concerning the Company's intent to
consummate a merger with an affiliate of Thoma Bravo. As a general
matter, forward-looking statements are those focused upon anticipated
events or trends, expectations, and beliefs relating to matters that are
not historical in nature. Such forward-looking statements are subject to
uncertainties and factors relating to the Company's operations and
business environment, all of which are difficult to predict and many of
which are beyond the control of the Company. Among others, the following
uncertainties and other factors could cause actual results to differ
from those set forth in the forward-looking statements: (i) the risk
that the merger may not be consummated in a timely manner, if at all;
(ii) the risk that the definitive merger agreement may be terminated in
circumstances that require the Company to pay a termination fee; (iii)
risks related to the diversion of management's attention from the
Company's ongoing business operations; (iv) risks regarding the failure
of the relevant Thoma Bravo affiliate to obtain the necessary financing
to complete the merger; and (v) the effect of the announcement of the
merger on the Company's business relationships (including, without
limitation, customers and suppliers), operating results and business
generally. Further risks that could cause actual results to differ
materially from those matters expressed in or implied by such
forward-looking statements are described in Qlik's SEC reports,
including but not limited to the risks described in Qlik's Annual Report
on Forms 10-K for its fiscal year ended December 31, 2015 and Quarterly
Report on Form 10-Q for the fiscal quarter ended June 30, 2016. Qlik
assumes no obligation and does not intend to update these
forward-looking statements.
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