With the aim to bolster its unstructured data processing capabilities, Qlik Technologies, a prominent player in the data analytics space, has acquired Kyndi, a specialist in natural language processing, search, and generative AI.
Although the financial terms of the deal were not disclosed, Kyndi's CEO, Ryan Welsh, and a team of AI experts from Kyndi will be joining the Qlik team as part of this strategic move.
The acquisition signifies a strategic expansion for American technology firm in enhancing its capabilities in processing unstructured data, a domain witnessing rapid growth and transformation in the digital era.
The integration of Kyndi's advanced technologies in natural language processing and AI into Qlik's existing suite of analytics tools is expected to provide a significant boost in the company's ability to offer nuanced and context-rich analysis of complex data.
This aligns with Qlik's strategy to deliver comprehensive solutions that enable it customers to extract meaningful insights from a diverse array of data sources, both structured and unstructured.
Qlik's Chief Strategy Officer, James Fisher, described the acquisition as a key milestone in Qlik's AI journey, stating, “The acquisition of Kyndi's assets represents a key step in Qlik's AI vision, supporting our ability to deliver rich, trusted answers from complex business questions.”
The company said that by incorporating Kyndi's technology into its cloud solutions, Qlik aims to strengthen its decision intelligence capabilities, offering more comprehensive and relevant answers. This initiative also emphasises improving enterprise data management and curation while adhering to strict governance and security standards.
“We have a unique opportunity to enhance how AI-powered insights create value for customers. Introducing our innovations into Qlik's technology will enable the merging of structured and unstructured data, thereby empowering users with deeper insights and more informed decisions across a wide range of business scenarios,” said Welsh.
This acquisition is expected to pave the way for future product innovations from Qlik, with announcements anticipated at the upcoming Qlik Connect event.
“Qlik's acquisition of Kyndi's assets is a significant move that reinforces its already established AI credentials and vision in the decision intelligence space,” said Mike Leone, Principal Analyst at Enterprise Strategy Group.
