Qlik, a data analytics company based in King of Prussia, has secured a substantial $1 billion investment from a Middle Eastern fund, specifically a subsidiary of the Abu Dhabi Investment Authority (ADIA). This funding is part of a strategic plan to enhance growth through acquisitions and advancements in artificial intelligence.

The company went private in 2016 when it was acquired by Thoma Bravo for approximately $3 billion. Recently, Thoma Bravo sold a significant minority stake in Qlik to ADIA, valuing the company at around $10 billion. This deal also includes an additional equity investment from Thoma Bravo, which remains the majority shareholder.

Qlik's CFO, Dennis Johnson, expressed optimism about the partnership with both Thoma Bravo and ADIA, highlighting the vast opportunities ahead. He emphasized that the investment will bolster Qlik's growth strategy, which has already seen success since the company went private. To date, Qlik has completed 14 acquisitions and is actively pursuing more mergers and acquisitions to broaden its service offerings.

The backing from two prominent investors positions Qlik favorably in the competitive data analytics market, allowing it to leverage resources for future growth initiatives.