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SAP acquires Qualtrics International just before IPO

Published 11/11/2018, 06:43 PM
© Reuters.  SAP acquires Qualtrics International just before IPO
SAP
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XM
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  • SAP (NYSE:SAP) announced acquisition of experience management software company Qualtrics International (XM) for $8B in cash just before its IPO. The company has secured funding for €7B to cover purchase price and acquisition costs.
  • "SAP already touches 77% 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," said SAP CEO Bill McDermott.
  • Qualtrics expects FY18 revenue of $400M+ and was valued at $2.5B based on their latest private funding round.
  • Qualtrics CEO Ryan Smith will continue to lead the company and will retain the branding.
  • Now read: Qualtrics Starts Process For 0 Million IPO


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