PHILADELPHIA, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Qlik®, a global leader in data integration, analytics, and AI, today announced the acquisition of pivotal intellectual property (patents and technology) from Kyndi, an innovator in natural language processing, search, and generative AI. This acquisition will support a transformative approach to how organizations interpret and process unstructured data. Kyndi's CEO and leading AI experts will join Qlik as part of the acquisition. This move signifies a substantial advancement in Qlik’s vision of delivering precise, contextually-rich answers to complex business questions. The acquisition leverages the combination of Qlik Cloud’s structured data mastery with Kyndi’s pioneering unstructured data technologies, reinforcing Qlik's position as a transformative market leader in how organizations utilize data.
By embracing Kyndi's expertise and proprietary technology, Qlik steps forward in unlocking valuable insights from customers’ ever-growing reservoirs of unstructured data, integrating these insights seamlessly with structured data analytics. This move not only continues Qlik's extensive track record in AI leadership, but also emphasizes its commitment to providing comprehensive, enterprise-wide solutions that address the critical need for in-depth analytics across all forms of data.
Addressing challenges in current answer engines, Kyndi's expertise enables Qlik to offer innovative solutions for managing and curating answers, unlocking new use cases for decision-making from a vast spectrum of data sources. This empowers users with comprehensive, quality-assured insights, setting a new benchmark in the data analytics landscape.
James Fisher, Qlik Chief Strategy Officer, said, "The acquisition of Kyndi's assets represents a key step in Qlik’s AI vision, supporting our ability to deliver rich, trusted answers from complex business questions. It enhances our established leadership in AI, ensuring that Kyndi's innovative unstructured data processing combined with our powerful structured analytics will unlock richer and more actionable insights for our customers."
Ryan Welsh, Founder and CEO of Kyndi, expressed, "I’m thrilled to join the Qlik team. Qlik is perfectly positioned to deliver on the promise of generative AI. We have a unique opportunity to enhance how AI-powered insights create value for customers. Introducing our innovations into Qlik's technology will enable the merging of structured and unstructured data, thereby empowering users with deeper insights and more informed decisions across a wide range of business scenarios."
Nathan Hoover, Innovations Supervisor at UPS, said, “The evolution of Qlik's AI portfolio demonstrates the remarkable potential for ongoing collaboration. Qlik's dedication to driving innovation in AI aligns with UPS's commitment to leveraging cutting-edge technology for business transformation. The future looks promising.”
This acquisition directly addresses the rapidly growing volume of unstructured data in the world. Qlik's incorporation of Kyndi's technology into its cloud solutions enriches decision intelligence by providing more comprehensive answers with enhanced context and relevance. This advancement strengthens the management and curation of enterprise data, fostering trust and consistency across organizations while upholding stringent governance and security standards.
Mike Leone, Principal Analyst at Enterprise Strategy Group commented, "Qlik's acquisition of Kyndi’s assets is a significant move that reinforces its already established AI credentials and vision in the decision intelligence space. Recognizing the criticality of enabling the combined analysis of structured and unstructured data, Qlik has positioned itself at the forefront of innovative analytics. By anticipating the surge in unstructured data analysis, this will enable Qlik’s customers to gain better insights that enhance decision-making across various industries."
This acquisition lays the groundwork for innovative future product announcements, to be revealed at Qlik Connect in Orlando, Florida from 3-5 June 2024. It underscores Qlik's leadership in Generative AI, expanding its capabilities and market presence.
About Qlik
Qlik converts complex data landscapes into actionable insights, driving strategic business outcomes. Serving over 40,000 global customers, our portfolio leverages advanced, enterprise-grade AI/ML and pervasive data quality. We excel in data integration and governance, offering comprehensive solutions that work with diverse data sources. Intuitive analytics from Qlik uncover hidden patterns, empowering teams to address complex challenges and seize new opportunities. Our AI/ML tools, both practical and scalable, lead to better decisions, faster. As strategic partners, our platform-agnostic technology and expertise make our customers more competitive.
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Keith Parker
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