Data analytics Qlik has acquired Israeli data integration and big data management software solutions company Attunity for $560 million, the two companies announced today.
Under the terms of the deal, Qlik will acquire all outstanding ordinary shares of Attunity. Attunity shareholders will receive $23.50 in cash per share, representing an 18% premium to Attunity’s last closing price of $19.93 on the share price yesterday. The transaction was approved by the two boards of directors.
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The company’s chairman and CEO Shimon Alon holds 8.3% of the company’s shares, worth $ 46 million. Alon (68) has already made an exit in the past when the Precise Software Solutions company he served as CEO was sold in 2002 for $ 540 million. Alon invested in Attunity and the company’s disappointing results led him to take over management in June 2008.
The 30 years old Attunity enables availability, delivery and management of data across heterogeneous enterprise platforms, organizations and the cloud. Its partners are such as Microsoft, Oracle, IBM and Hewlett Packard Enterprise. Attunity’s headquartered in Boston, but Attunity has offices in North America, Europe, and Asia Pacific and through a network of local partners, the company said.
The company expects to achieve revenues of more than $100 million in 2019.
“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. “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.”
Building on Qlik’s recent acquisition of Podium Data and the introduction of Qlik Data Catalyst, Attunity provides cross-platform data streaming capabilities to support a shift to cloud and real-time analytics. This acquisition further differentiates Qlik by providing an expanded breadth of enterprise data management capabilities and adds an experienced team of data professionals.
