- SAP announced acquisition of experience management software company Qualtrics International 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.
Date: November 19, 2018
Source: investing.com