(News Bulletin 247) – SAP announces the sale of all of its 423 million shares of Qualtrics International. in connection with the acquisition of Qualtrics by funds affiliated with Silver Lake as well as the Canada Pension Plan Investment Board (CPP Investments).
At a purchase price of $18.15 cash per share, the transaction values ​​Qualtrics at approximately $12.5 billion, representing a 73% premium to the 30-day average price prior to the announcement by SAP of the study of a sale. SAP’s stake will be acquired for approximately $7.7 billion.
“Silver Lake has both the operational expertise and the software company track record to help Qualtrics expand its leadership in the XM category it pioneered,” said Christian Klein, CEO and board member of administration of SAP SE.
‘Since we acquired Qualtrics in 2019, the company has more than tripled its revenue while being profitable. SAP intends to remain a technology partner, serving mutual customers and continuing to contribute to Qualtrics’ success.’
The transaction is expected to be finalized in the second half of 2023.
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