SAP-controlled Qualtrics accepts $12.5B supply from Silver Lake, CPPIB

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Qualtrics Worldwide Inc. stated on Monday it will be taken non-public after its controlling shareholder, SAP SE, accepted a US$12.5 billion bid from a consortium led by Silver Lake and Canada Pension Plan Funding Board (CPPIB).

Shares of the shopper survey software program maker rose greater than six per cent to US$17.60 earlier than the bell.

SAP agreed to the US$18.15-per-share supply and stated it will get about US$7.7 billion for its stake.

The yr’s largest non-public equity-led buyout comes after the German software program large determined that the supply was the most effective it may safe, Reuters reported on Sunday.

Qualtrics stated earlier this month it will negotiate on an unique foundation with Silver Lake and CPPIB till March 15 to see whether or not a deal might be finalized.

Silver Lake, whose portfolio consists principally of know-how corporations, presently holds a 4.1 per cent stake in Qualtrics.

In 2018, SAP purchased Qualtrics for US$8 billion and three years later listed it in New York.

Videogame software program developer Unity Software program and Alphabet Inc’s self-driving know-how agency Waymo are among the many corporations in Silver Lake’s portfolio.

Power Points

SAP-controlled Qualtrics accepts $12.5B supply from Silver Lake, CPPIB