Showing posts with label Qlik. Show all posts
Showing posts with label Qlik. Show all posts

Philly EnterpriseTech People News 11//22: Qlik, Bayada, Geisinger, Google, Flatiron Health





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courtesy of  Bayada Home Health Care









Kurian splits from Oracle, only to appear at Google a month later.




Now the Governor-elect of Connecticut.




As two of the largest investment funds somehow scrape together $20 million for ex-Toys R Us employees.




Geisinger is a nationally recognized PA-based hospital & healthcare group.








After starting Invite Media and selling to Google.













While Sapphire Ventures is technically independent, SAP has been its sole funding source.




Actually, HQ1 is in Wayne PA. (Trendy now to say that)





An old list broker adapts & survives.





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Links 10/18: Leaked email shows Salesforce once had Adobe on its target acquisition list; Qlik and Veeva Systems also on it



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Leaked email shows Salesforce once had Adobe on its target acquisition list
(Business Insider)
Qlik and Veeva Systems also on list.

Fidelity to Launch Digital Advice Platform for Advisors (T3 Technology Hub)
Joint Fidelity/eMoney development.

Uber, Lyft closing in on permanent approval in Pennsylvania (PennLive)SsSs

IBM Falls Despite Cloud Growth: Margins Undermine ‘The Transition’ (Barron's Tech Trader Daily)

Tech Companies Expect Free High-Speed Internet for Poorer Americans to Pay Off Later (NY Times)

Layer3 TV conducting pre-launch tests in D.C., Boston and Houston (FierceCable)

Baobab Studios Lands $25M ‘B’ Round
(Multichannel News)


SAP to make SuccessFactors employee-management service available on Microsoft's Azure (ZDNet)

Zenefits is trying to move past controversy with the launch of its new HR platform (Recode)
Speaking of SuccessFactors, its founder, Lars Dalgaard, took considerable criticism for the Zenefits meltdown as its key sponsor at Andreessen Horowitz, and has a big investment in its attempted recovery.




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Links 10/3: Salesforce is buying Krux for $340M in cash and stock; Qlik introduces web-based data visualization tool Qlik Playground for developers



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As Qlik's purchase is consummated, Tableau names AWS vet as new CEO



Tom Paine



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Done Deal.

That was the word today, as Thoma Bravo announced it had completed its $3 billion buyout of business intelligence vendor Qlik.

The private equity deal, reached in early June, was approved by Qlik shareholders last week. Shares of Qlik common stock were removed from listing on The NASDAQ Stock Market, with trading in Qlik shares suspended prior to the opening of business today.

Although the Philly area loses a major, publicly traded tech firm, at least Qlik remains based in Radnor. Although nothing is immutable; there is always a chance that the company, which has about 10% of approximately 2500 employees based out of Radnor, might be subject to some future combination with a company based elsewhere, and headquarters is usually the first to go in such situations.

In its last earnings report as a public company in July, Qlik reported revenue of $180.6 million and a net GAAP loss of 7 cents per share.

Though Thoma Bravo has no particular tie to the Philadelphia area that I know of, it now has four portfolio companies here. The other three are Elemica (Wayne), iPipeline (Exton), and Sparta Systems (Hamilton, NJ).

Ironically, the closest to being Qlik's arch rival, Seattle-based Tableau, today announced that Amazon Web Services veteran Adam Selipsky will become Tableau’s new CEO, replacing co-founder Christian Chabot, who will remain as chairman. That Selipsky comes from AWS may be an indictor of a greater emphasis on Tableau's cloud offering in the future.

Tableau, which had been on a torrid growth pace, lost almost 50% of its value on one day in February of this year after a missed forecast and hasn't really recovered since. In its most recent quarter Tableau reported a net GAAP loss of $47.5 million on revenue
of $198.5 million.






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Radnor-based QLIK accepts Thoma Bravo's $3 billion, $28.50 per share offer (Update)


Tom Paine



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This morning QLIK accepted PE firm Thoma Bravo's offer of $3 Billion, or $30.50 per share. Headquarters will remain in Radnor.

The price is a 40 percent premium to the company’s "unaffected 10-day average stock price prior to March 3." That's the date that Elliot Management announced it had bought 8.9% of QLIK shares. Elliot's purchase followed a short-term dip brought on by a dissapointing earnings report and a critical article in Barron's.

My guess is potential investors who looked at QLIK saw a mixture of good and bad news coming down, and were not willing to pay a premium over the price range shares settled in after Elliot's stake was announced.

QlIK had $370 million in cash & equivalents as 3/31.

QLIK's headcount is widely dispersed geographically, and less than 10% of its roughly 2500 employees work out of Radnor.

Another issue is what happens to CEO Lars Björk. He has had more pluses than minuses in leading QLIK to get to this point, but has been slow to respond to some key changes (dataviz, big data) in the market. My guess is he will be gone, one way or another.






Reuters is reporting that Thoma Bravo is prepared to make an offer to Qlik Technologies, perhaps as soon as today.

Thoma Bravo will make a binding offer of as much as $2.8 billion, or $28 to $30 per share, the report says. That price is really not higher than Qlik's trading range either before or after Paul Singer's Elliot Management Corp bought roughly a 10% stake in the Radnor-based business intelligence software vendor, with the exception of s brief dip in February. Elliot Management's buy was reported in early March. QLIK was trading as high as $32 today.

There are people who believe Qlik's technology is superior to Tableau's or that of most other BI or DataVis companies. But if the Reuters report is accurate, perhaps no one is willing to step forward and pay a premium.

Based out of San Francisco and Chicago, Thoma Bravo is not a stranger to the Philadelphia area.Its portfolio includes iPipeline of Exton and Sparta Systems of Hamilton, NJ. I consider it to be one of smartest buyout firms in the software/SaaS space.


Denn Howlett has a somwhat skeptical view of QlikTech and the auction process.

Update: Qlik Will Likely Reject P.E. Bid As Too Low, Say CLSA, Brean (Barron' Tech Trader Daily)


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Links 6/2: Neat turns its receipt-scanning app into subscription-based SaaS; PA looking to lead transportation revolution



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Big Data Firm Qlik Technologies OKs $3 Billion Private Equity Offer (Investor's Business Daily)

 Neat turns its receipt-scanning app into subscription-based software (SearchCloudApplications)
Outsourced much of its software development.
SAP reshuffles product, executive decks to better target smaller companies (ZDNet)
PA Looking to Lead Transportation Revolution (Politics PA)

 Uber's No Good, Very Bad Deal with Saudi Arabia (Dan Primack/Fortune)
Veeva Systems Inc Is Just Getting Started (Motley Fool)

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Ex-Employee Sues Oracle Over Alleged Cloud Accounting Shenanigans, Oracle Plans Countersuit (CRN)


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Tableau, chasing exploding demand, catches up to Radnor's Qlik in revenue (Updated 2/12 for QLIK earnings)



Tom Paine



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Seattle-based Tableau, the data visualization software vendor, continues to grow at an amazing pace. Its fourth quarter revenue, announced Wednesday, grew 75% to $142.9 million. It also reported net income of $20.7 million.

Tableau, founded in 2003, continued to outpace its longer-established rival, Radnor-base Qlik Technologies. In fact, Tableau's revenue surpassed that of Qlik's latest reported quarter, Q3 2014, of $131.2 million. Qlik reports its full year 2014 results on February 12. While Tableau continues growing at 70-90%, Qlik has been growing in the mid-20s for the past couple of years, and has historically been nominally profitable at best. While there is no question about the value of Qlik's products and 20% plus growth isn't mince meat, it seems that Tableau has struck a broader vein in the market for now.

Tableau Visualization

The two came at the business intelligence space from different angles. Tableau emphasized data visualization, and tools that non-technical end users could easily work with (it produces all sorts of beautiful graphs and charts). Qlik has emphasized a more rigorous data model that typically requires more acquired skills, and perhaps produces better analyses as a result.

In November, Qlik introduced Qlik Sense, its self-service tool aimed at the data visualization market, while maintaining its QlikView platform for developing more sophisticated dashboard applications. The introduction was well received, and maybe we will see some indication of how it is doing next week.

Qlik went public in 2010 and has a market capitalization of about $2.7 billion. Tableau went public in 2013 and has a market cap of $6.7 billion.

While Qlik originated in Sweeden and has long gotten much of its revenue from outside the Americas, Tableau built its early revenue base almost entirely in the US and is just now seeing significant growth internationally, although that area still accounts for less than a quarter of its revenue.

Tableau and Qlik's closest pure play competitors in the BI space are probably TIBCO's Spotfire, MicroStrategy and Birst. Other legacy vendors, including SAP and Microsoft, are trying to catch up with the next-generation products, and Salesforce.com introduced its analytics product, Wave, at last year's Dreamforce.

Update 2/12: Qlik announced its 4th quarter and full year 2014 results this afternoon. Revenue for the quarter beat expectations, but was only up 13% from a year ago (at $182.8 million), although Qlik said it increased 20% on a constant currency basis. For the year, revenue was $556.8 million, up 18%, with a GAAP net loss of $24.6 million.

Lars Björk, Chief Executive Officer of Qlik, stated in the earnings release, "We believe we are well positioned entering 2015 as our dual product strategy, QlikView for guided analytics and Qlik Sense for self-service BI, opens up even more opportunity for us to fulfill companies’ complete BI requirements." However guidance for the first quarter was well below consensus expectations, and Qlik's full year revenue forecast for 2015 was for growth of between 10 and 12%.

Diginomics's Denn Howlett provides some more details from Qlik's earnings call. Management does not expect a significant contribution from its new QlikSense self-discovery platform in the first half of 2015. Its more in the pipeline building stage.

Update 2/13: Qlik announced the acquisition of Vizubi and its NPrinting product line, with its "market-leading report generation, distribution, and scheduling application for QlikView". The company, which has 17 employees on LinkedIn (many in Italy), has been a Qlik partner since 2013.


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