Qlik, a global expert in data integration, analytics, and AI, has announced its acquisition of intellectual property and technology from Kyndi, a leading player in the fields of natural language processing, search, and generative AI. This acquisition represents Qlik's ongoing commitment to advancing AI technologies and its mission to transform the interpretation and processing of global unstructured data. According to Qlik, around 80% of organisations are currently grappling with such data.
This acquisition aims to enhance Qlik's provision of authoritative, contextually rich answers to complex business questions, combining Qlik Cloud’s mastery of structured data with Kyndi’s innovative unstructured data technologies. Kyndi's CEO and leading AI experts will join Qlik as part of the deal.
By leveraging Kyndi's proprietary technology, Qlik is positioning itself to unlock valuable insights from customers’ ever-growing sources of unstructured data, integrating these insights seamlessly with structured data analytics. The move reinforces Qlik's status as a transformative market leader in how organisations utilise data and continues the company's impressive track record in AI leadership.
Kyndi's expertise will allow Qlik to offer solutions that manage and curate answers, opening up new use cases for decision-making across a vast range of data sources. This will empower users with comprehensive, quality-assured insights, setting a new standard in the data analytics landscape.
James Fisher, Chief Strategy Officer, Qlik, said: "The acquisition of Kyndi's assets represents a key step in Qlik’s AI vision, supporting our ability to deliver rich, trusted answers to 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, added: "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."
This acquisition addresses the rapidly increasing volume of unstructured data worldwide. Incorporating Kyndi's technology into Qlik's cloud solutions will enhance decision intelligence by providing more comprehensive answers and bolstering relevance and context. Additionally, management and curation of enterprise data will be strengthened, fostering trust and consistency throughout organisations while maintaining rigorous 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. Recognising the criticality of enabling the combined analysis of structured and unstructured data, Qlik has positioned itself at the forefront of innovative analytics."
This acquisition lays the groundwork for future product announcements, demonstrating Qlik's leadership in generative AI and facilitating its expansion of capabilities and market presence.