Data analytics platform Qlik has confidentially submitted documents to US regulators for an initial public offering, marking the first steps towards its return to the public markets approximately six years after it was acquired by acquisitions firm Thoma. Bravo.
Qlik agreed to go private by Thoma Bravo in 2016 through a nearly $ 3 billion (A $ 4.2 billion) deal, after being lobbied by activist hedge fund Elliott Management.
The company offers analytics, data visualization and intelligence solutions through a cloud platform to more than 50,000 business customers, including PayPal Holdings, Airbus, BP and the National Health Service of England.
Qlik’s decision to go public comes at a time when demand for cloud-based analytics and intelligence business software solutions has seen a major rebound as global companies move to a fully working model. remote or hybrid due to the Covid-19 pandemic.
Companies confidentially apply for an initial public offering from regulators in an effort to keep their finances hidden from competitors until the regulator reviews the documentation.