Shares of Qlik Technologies (QLIK) are up 4.4% Thursday, after private equity firm Thoma Bravo said it is buying would buy the business intelligence software company for $30.50 per share in an all-cash deal.

TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, was not surprised by this acquisition. He had made the case during CNBC's "Mad Dash" segment that IBM (IBM - Get Report) should've bought Qlik to take advantage of its business intelligence and other software. Since it didn't buy Qlik, it would be wise for IBM to make a more aggressive approach in this field, he said.

Given the price of the deal -- shares are currently around $30.20 -- will another buyer step in and offer a higher price?  Cramer said it's interesting the stock is so far below its 52-week high of $42.90. Co-host David Faber pointed out that all-cash deals, such as this one, tend to close "fairly quickly."

Cramer noted this is the second notable deal in the market over the past few days after Salesforce (CRM - Get Report)  snapped up Demandware (DWRE) for $2.8 billion.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.