QlikTech files for IPO
In a long anticipated move, in-memory business intelligence provider QlikTech of Radnor announced today it had filed a registration statement on Form S-1 for a proposed initial public offering of common stock. No info at this time concerning number of shares or pricing. Morgan Stanley, Citigroup Global Markets, and J.P. Morgan are acting as joint book-runners, and Jefferies & Company and Thomas Weisel Partners LLC will be co-managers.
QlikTech has grown rapidly and achieved revenue of $120 million in 2008; I have yet to see 2009 figures. This should be the biggest tech IPO in the Philly area in some time. I don't have enough information to makes guesses as to how much the company is worth except that it should be in the hundreds of million dollars. An IPO not only would help some people to "cash out" or get some liquidity for their interest in QlikTech, but it would also give the company a currency to make acquisitions to broaden its product portfolio.
See press release here.
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