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HomeNewsEnterprise ITQlik buys Israeli firm Attunity for $560 million

Qlik buys Israeli firm Attunity for $560 million

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The US-based data analytics firm is acquiring for $560 million. The Israel-based Attunity deals in data integration and big software solutions. Under the terms of the agreement, Qlik will acquire all outstanding ordinary shares of Attunity for a total value of approximately $560 million, said the company.

Under the agreement, Attunity shareholders will receive $23.50 in cash per share, representing a 18% premium to company's last closing price of $19.93 per share on February 20, 2019. The agreement was unanimously approved by the boards of directors of Qlik and Attunity, said a statement.

The acquisition will enable Qlik in providing an expanded breadth of enterprise data management capabilities and adds an experienced team of data professionals. Recently, the company has acquired Podium Data.

“Attunity's strength in real-time data delivery across complex cloud environments will uniquely position Qlik to help customers lead with data and align their enterprise analytics strategy,“ said Mike Capone, Qlik CEO.

“Attunity has demonstrated strong growth in a large market and together we're better positioned to serve our enterprise customers along with our partner ecosystem to solve the most challenging data problems,” said Capone.

“We are excited to be joining Qlik, combining our data integration and big data management capabilities with the analytics leader to accelerate our success,” said Shimon Alon, Chairman and CEO of Attunity.

“We believe the transaction is in the best interest of Attunity's stakeholders and provides Attunity with additional awareness and scale to execute our strategic plans as we continue to provide our customers with the premier products and services they have come to expect,” said Alon.

This acquisition will pull in Attunity's partner network, further expanding Qlik's go-to-market reach and strengthening its data lake management and cloud infrastructure partnerships, including Microsoft, Amazon AWS, Cloudera and Snowflake.

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Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
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