Qlik Technologies Sets IPO Terms

Qlik Technologies Inc., a Radnor, Penn.-based provider of business analytics software, has set its IPO terms to 11.2 million shares being offered at between $8.50 and $9.50 a piece. It would have an initial market cap of approximately $712 million, were it to price at the high end of its range.

The company plans to trade on the Nasdaq under ticker symbol QLIK, with Morgan Stanley, Citi and J.P. Morgan serving as co-lead underwriters.

Qlik reports around $157 million in 2009 revenue, compared to $118 million in 2008. Its 2009 net income was $6.86 million.

Shareholders include Accel Partners (26.7% pre-IPO stake), Jerusalem Venture Partners (25.4%) and Stiftelsen Industrifonden (10.1%). www.qlikview.com