The US hedge fund Elliott has made a major investment in the Swedish founded Qlik, which means that they are now the largest shareholder in the company through a holding of almost nine per cent of the shares. The news got Qliks share to rise seven percent, and it is predicted that a sale may take place soon. IBM and Oracle are singled out as potential buyers of analysts, such as investment bank William Blair.
In connection with the stock purchase stated Elliott Qlik is undervalued and ripe to be bought by a major technology company, writes Reuters. The stock has fallen around 40 percent since mid-August.
A spokesman Elliott confirms Breakit that they have initiated talks with Qliks lead to “increase shareholder value, including a potential sale of the company and other strategic measures “.
Qlik founded in 1993 in Lund, Sweden and is led by Lars Björk. Nowadays, it is headquartered in Philadelphia, but a large part of the development remains in Lund, where the company has around 500 staff engineers. Qliks success consists of a tool , QlikView, they have developed to analyze and visualize large amounts of data relevant to the company. the company is listed on the Nasdaq exchange last six years.
Elliott founded by US billionaire Paul Singer, and the manages the equivalent around 230 billion for its investors. the hedge fund has previously entered the IT companies like Novell, Riverbed Technology and BMC Software, which later sold.
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