NEWS
Qlik Technologies Inc. Files for $100m IPO.
April 5th, 2010. (RTTNews) - Qlik Technologies Inc., a provider of business intelligence software, filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to a proposed initial public offering of up to $100 million of its common stock.
Radnor, Pennsylvania-based Qlik intends to apply to have its common stock listed on the Nasdaq Global Market under the symbol "QLIK"
Qlik, which was founded in Sweden in 1993, reincorporated in Delaware in 2004 and began to broaden its marketing and sales activities in the United States and continued expansion globally.
The shares in the offering will be offered by QlikTech and certain selling stockholders. QlikTech stated that the number of shares to be offered and the price range for the offering have not been determined.
Qlik said it intends to use approximately $6.9 million of this offering net proceeds to repay in full the principal and accrued interest and to pay any applicable prepayment fee on outstanding debt facility from Stiftelsen Industrifonden, and remaining net proceeds for general corporate purposes.
Morgan Stanley & Co. Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities Inc. are acting as joint book-runners for the offering. Jefferies & Company, Inc. and Thomas Weisel Partners LLC are acting as co-managers.
For the years ended December 31, 2009, 2008 and 2007, the company generated revenue of $157.4 million, $118.3 million and $80.6 million, respectively. Net income for 2009 totaled $6.86 million, compared to $2.99 million in 2008.
Accel Europe, L.P., Jerusalem Venture Partners IV, L.P., Stiftelsen Industrifonden, and Måns Hultman hold a notable stake in the company.
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