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Nov. 11, 2018, 6:50 p.m. EST

SAP to buy software firm Qualtrics in $8 billion deal

Utah-based Qualtrics had filed for IPO last month

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By Mike Murphy


Bloomberg News
Bill McDermott, chief executive officer of SAP SE.

SAP SE has agreed to purchase Qualtrics International Inc. for $8 billion in cash, the companies announced Sunday.

Qualtrics, a Utah-based software company, had filed for an initial public offering in October hoping to raise about $200 million.

Bill McDermott, chief executive of German-based software giant SAP /zigman2/quotes/207905606/composite SAP -0.09%   /zigman2/quotes/203458330/delayed DE:SAP -0.31%  , said Sunday the deal would bolster its offerings.

“We continually seek out transformational opportunities — today’s announcement is exactly that,” McDermott said in a statement. “Together, SAP and Qualtrics represent a new paradigm, similar to marketmaking shifts in personal operating systems, smart devices and social networks.”

In a statement, Qualtrics CEO Ryan Smith said “SAP will help us scale faster and achieve our mission on a broader stage. This will put the XM Platform everywhere overnight.” The XM Platform is Qualtrics’ experience-management software for feedback and data analysis.

Smith will continue to lead Qualtrics, and the company said it expects full-year 2018 revenue to exceed $400 million.

The companies said the deal is expected to close in the first half of 2019.

SAP’s American depositary receipts are down 3.6% year to date, compared to the S&P 500’s /zigman2/quotes/207905606/composite SAP -0.09%   4% gain.

/zigman2/quotes/207905606/composite
US : U.S.: NYSE
$ 128.60
-0.12 -0.09%
Volume: 972,178
Oct. 17, 2019 6:30p
P/E Ratio
43.05
Dividend Yield
0.94%
Market Cap
$153.64 billion
Rev. per Employee
$302,071
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/zigman2/quotes/203458330/delayed
DE : Germany: Frankfurt
116.24
-0.36 -0.31%
Volume: 1,799
Oct. 17, 2019 8:58p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
€256,047
loading...
/zigman2/quotes/207905606/composite
US : U.S.: NYSE
$ 128.60
-0.12 -0.09%
Volume: 972,178
Oct. 17, 2019 6:30p
P/E Ratio
43.05
Dividend Yield
0.94%
Market Cap
$153.64 billion
Rev. per Employee
$302,071
loading...

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