SAP pays up for Qualtrics

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Qualtrics Screenshot

SAP SE (NYSE: SAP) announced on November 11 that it intends to acquire Qualtrics International Inc. SAP SE will purchase all outstanding shares of Qualtrics in cash for approximately $7.8 billion. The transaction is expected to close in the first half of 2019 and has been approved by the Boards of Directors at both companies. The deal scooped the IPO for which plans were well underway. Qualtrics is anticipated to operate as an entity within SAP SE and retain its leadership, branding, culture, and personnel. Qualtrics will also maintain headquarters in both Seattle, WA and Provo, UT. Bill McDermott, CEO at SAP, stated, “We continually seek out transformational opportunities – today’s announcement is exactly that. Together, SAP and Qualtrics represent a new paradigm, similar to market-making shifts in personal operating systems, smart devices and social networks. SAP already touches 77 percent of the world’s transactions. When you combine our operational data with Qualtrics’ experience data, we will accelerate the XM category with an end-to-end solution with immediate global scale.” Goodwin Procter, LLP and Qatalyst Partners served as financial advisors to Qualtrics. J.P. Morgan served as financial advisor to SAP with Jones Day acting as legal advisor.

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