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Qlik Technologies Inc (QLIK) Jumps As Elliott Associates Goes Activist

Activist billionaire Paul Singer’s Elliott Associates has a new target: Qlik Technologies Inc (NASDAQ:QLIK). Today, Paul Singer revealed a brand new 5% activist stake in a 13D filing, as well as claiming economic exposure to 8.8% of Qlik’s shares. Elliott Associates didn’t hold any QLIK shares at the end of December. They probably bought the stock when the shares dipped below $20 in the middle of February. Qlik Technologies is up 4.5% at 9:56 am.  The activist hedge fund believes that QLIK “operates in a highly strategic area of the technology industry with an attractive competitive position and a compelling product set, the value of which is not reflected in the Issuer’s current market value”.  The fund also believes that “there are strategic and operational opportunities for Qlik Technologies that would meaningfully increase value to shareholders”. Elliott has initiated a dialogue with QLIK’s Management and Board of Directors regarding those opportunities.

The filing didn’t provide details about these opportunities. A copy of the filing can be seen below:
Paul Singer
Paul Singer
Elliott Management

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Elliott Associates 1,529,528 0 1,529,528 0 1,529,528 1.6%
Elliott International 0 3,105,405 0 3,105,405 3,105,405 3.3%
Elliott International Capital Advisors Inc 0 3,105,405 0 3,105,405 3,105,405 3.3%

Page 1 of 12 SEC Filing

(RULE 13D – 101)
(Amendment No. )*
Qlik Technologies Inc.
(Name of Issuer)
Common Stock, $0.0001 par value
(Title of Class of Securities)
74733T 10 5
(CUSIP Number)
Stephen M. Schultz, Esq.
Kleinberg, Kaplan, Wolff & Cohen, P.C.
551 Fifth Avenue, New York, New York 10176
(212) 986-6000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
February 22, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ].
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Rule 13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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