Big Law

Qualtrics to Go Public After 2018 Acquisition by SAP

Qualtrics was just days away from an IPO when SAP announced in November 2018 its intent to acquire the company at an $8 billion price tag. Now, it looks like Qualtrics will get a second shot at the public markets, as SAP announced on Sunday its plans to take the subsidiary public.

While a timeline for that offering was not announced, SAP said that it will keep its majority stake in Qualtrics even after the IPO, and that Qualtrics CEO Ryan Smith will continue to helm the company out of its headquarters in Provo, Utah.

“[We] decided that an IPO would provide the greatest opportunity for Qualtrics to grow the experience management category, serve its customers, explore its own acquisition strategy, and continue building the best talent,” SAP CEO Christian Klein said in a press release, adding that Qualtrics will remain as “SAP’s largest and most important go-to-market and research and development (R&D) partner.”

Read the source article at Business Insider

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