DataMarket, a company specialising in analysis and visual representation of data, established in Reykjavik in 2008, has been sold to NASDAQ registered software provider Qlik. Qlik acquired all stock in Datamarket for US$ 13.5 million, equalling 1.6 billion ISK. Hjálmar Gíslason, founder of DataMarket, says that the company’s services in Iceland will not change. He predicts growth at the Icelandic premises and an increase in the number of local staff.
Hjálmar says that his DataMarket’s main value lay in innovative technologies to co-ordinate and update data in various formats, from different sources. He says that combining those solutions with those already at hand at Qlik opens up various new possibilities in the field of business intelligence (BI).
Asked about in which market and against which companies Qlik mainly competes, Hjálmar relied that “established – and somewhat old-fashioned” solutions are their main competitors, such as BusinessObjects from SAP, IBM’s Cognos, and Oracle’s Business Intelligence. He added that newer arrivals in the market include Tableau Software.
The purchase agreement is available at the US Securities and Exchange Commission’s website.