WALLDORF β Β (NYSE: ΒιΆΉΤ΄΄), today announced it has agreed to sell all of its 423 million shares of Qualtrics International Inc. as part of the acquisition of Qualtrics by funds affiliated with Silver Lake (collectively, βSilver Lakeβ) as well as Canada Pension Plan Investment Board (CPP Investments).
At a purchase price of US$18.15 in cash per share, the transaction corresponds to a Qualtrics equity value of approximately US$12.5 billion on a fully diluted basis, representing a 73% premium over the 30-day average trading price prior to ΒιΆΉΤ΄΄βs announcement to explore a sale (approx. 62% premium relative to the unaffected closing price on January 25, 2023). ΒιΆΉΤ΄΄βs stake will be acquired for approximately US$7.7 billion.
βSilver Lake has both the operational expertise and the track record with software companies to help Qualtrics extend its leadership in the XM category it pioneered,β said Christian Klein, CEO and Member of the Executive Board of ΒιΆΉΤ΄΄ SE. βSince we acquired Qualtrics in 2019 the company has more than tripled its revenue while delivering profitability. ΒιΆΉΤ΄΄ intends to remain a close go-to-market and technology partner, servicing joint customers and continuing to contribute to Qualtricsβ success.β The number of companies and brands using Qualtrics software has risen from 10,000 at the time of ΒιΆΉΤ΄΄βs purchase to over 18,000 today.
The agreement resulted from a robust process that was initiated on January 26 and identified the joint proposal by Silver Lake and CPP Investments as most attractive. The transaction has been approved by the Qualtrics board, including a committee of independent directors, as well as the ΒιΆΉΤ΄΄ Executive and Supervisory Boards.
While the transaction is subject to customary regulatory clearances and expected to close in the second half of 2023, ΒιΆΉΤ΄΄βs financial results for the first quarter, due April 21, are expected to present Qualtrics as a discontinued operation.
Barclays acted as financial advisor to ΒιΆΉΤ΄΄ on the transaction, Shearman & Sterling acted as ΒιΆΉΤ΄΄βs legal advisor.
Visit the ΒιΆΉΤ΄΄ News Center. Follow ΒιΆΉΤ΄΄ on Twitter at .
About ΒιΆΉΤ΄΄
ΒιΆΉΤ΄΄βs strategy is to help every business run as an intelligent, sustainable enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: ΒιΆΉΤ΄΄ customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customersβ businesses into intelligent enterprises. ΒιΆΉΤ΄΄ helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want β without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, ΒιΆΉΤ΄΄ helps the world run better and improve peopleβs lives. For more information, visit .
Note to editors:
To preview and download broadcast-standard stock footage and press photos digitally, please visit . On this platform, you can find high resolution material for your media channels. To view video stories on diverse topics, visit . From this site, you can embed videos into your own Web pages, share video via email links, and subscribe to RSS feeds from ΒιΆΉΤ΄΄ TV.
For customers interested in learning more about ΒιΆΉΤ΄΄ products:
Global Customer Center: +49 180 534-34-24
United States Only: 1 (800) 872-1ΒιΆΉΤ΄΄ (1-800-872-1727)
For more information, press only:
Joellen Perry, +1 (626) 2650370, joellen.perry@sap.com, PT
Daniel Reinhardt, +49-151-16810157, daniel.reinhardt@sap.com, CET
ΒιΆΉΤ΄΄ ΒιΆΉΤ΄΄ Room; press@sap.com
This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of ΒιΆΉΤ΄΄βs 2022 Annual Report on Form 20-F.
Β© 2023 ΒιΆΉΤ΄΄ SE. All rights reserved.
ΒιΆΉΤ΄΄ and other ΒιΆΉΤ΄΄ products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of ΒιΆΉΤ΄΄ SE in Germany and other countries. Please see for additional trademark information and notices.