The company announced that they have sold all 423 million shares of Qualtrics International Inc. that SAP SE owned to funds affiliated with Silver Lake and the Canada Pension Plan Investment Board.At a purchase price of US$18.15 in cash per share, Qualtrics is worth about US$12.5 billion. This is a 73% increase over the 30-day average trading price before SAP said it was thinking about selling.
The cost of purchasing SAP’s stock is expected to be $7.7 billion USD. “Silver Lake has both the operational expertise and the track record with software companies to help Qualtrics extend its leadership in the XM category it pioneered,” said Christian Klein, CEO of SAP SE. The deal has received the blessing of the executive and supervisory boards of SAP and Qualtrics. They is expected to report Qualtrics as a discontinued operation in its first quarter financial results, scheduled for release on April 21.
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However, the transaction is subject to regulatory approval. The number of businesses and brands using Qualtrics software has increased from 10,000 to over 18,000. Since it acquired Qualtrics in 2019. SAP plans to keep working closely with Qualtrics as a go-to-market and technology partner. Helping clients they both work with and boosting the success of the company. SAP’s legal counsel was Shearman & Sterling, and Barclays advised them financially on the transaction.
