US-based analytics and data integration vendor Qlik has acquired intellectual property (patents and technology) from Kyndi, a Silicon Valley company focused on natural language processing, search, and GenAI.
Although tight-lipped on the monetary value of the transaction, the companies underlined the significance of combining Qlik Cloud’s proficiency with structured data and Kyndi’s unstructured data technologies.
They added that Kyndi's expertise will enable Qlik to offer solutions for managing and curating answers, unlocking new use cases for decision-making from a vast spectrum of data sources.
James Fisher, chief strategy officer at Qlik, commented, "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.”
However, while Kyndi’s CEO and AI experts will join Qlik, it is not a complete acquisition, said Fisher. “We have hired key expertise from Kyndi, including its leading-edge technology and expert AI team alongside Ryan Welsh, its CEO. It’s important to clarify that while this acquisition represents the essence of Kyndi in terms of its technological assets and human capital, it does not constitute a complete acquisition of the entire legal entity of Kyndi.”
Welsh added that the integrating of Kyndi's and Qlik's technology will facilitate the convergence of structured and unstructured data, providing users with richer insights and informed decision-making across diverse business scenarios.
Founded in 2014, Kyndi developed "the first explainable AI platform for government, financial services and life sciences". It has raised $47.4 million in funding prior to the Qlik acquisition, with Intel Capital being one of its main venture investors.
Qlik, headquartered in Pennsylvania, has expanded its analytics expertise through key acquisitions, including Podium Data in 2018 and Attunity in 2019 for integration capabilities, Blendr.io in 2020, and Talend and Mozaic in 2023 for data integration and decentralised data management, respectively. It also bought Crunchbot in 2019 for an AI chatbot and Big Squid in 2021 to bolster its machine learning tools.