Qlik acquires Kyndi; marks second AI-based acquisition in a month

Business analytics company Qlik has announced the acquisition of artificial intelligence platform Kyndi. A specialist in natural language processing, search, and generative AI, Kyndi is expected to enhance Qlik's ability to interpret and process unstructured data. 

This acquisition will combine Qlik Cloud’s structured data expertise with Kyndi’s unstructured data technologies  to provide precise and contextually-rich answers to complex business questions. As part of the deal,  Kyndi's CEO and ‘leading AI experts’ (number hasn’t been specified) will join Qlik.

“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,” said Ryan Welsh, Founder and CEO of Kyndi.

This acquisition lays the groundwork for innovative future product announcements, to be revealed at Qlik Connect in Orlando, Florida from 3-5 June 2024 to mark ‘Qlik's leadership in Generative AI, expanding its capabilities and market presence’, the company said in a statement.

This is Qlik’s second acquisition in a month’s time. The Swedish data analytics company said that it will be acquiring  artificial intelligence-based data management firm Mozaic Data. With this deal, Qlik expects to offer simplified data handling techniques to businesses, focused on a data product-oriented approach for better data quality and governance. The founder Mozaic, Sharad Kumar will now join Qlik as the regional head of data integration and quality, and work towards developing a next-generation data product catalog solution and allowing customers to extract more value from their data quickly and effectively.