CPPIB joins forces with U.S. private equity firm to bid $12.4-billion for software maker Qualtrics

Canada Pension Plan Investment Board is teaming up with U.S. private equity firm Silver Lake on a proposal to buy experience management software company Qualtrics International Inc. for US$12.4-billion in what would be one of the largest buyouts this year.

The controlling shareholder of Qualtrics, the German software multinational SAP SE, put the company up for sale in January. SAP acquired Qualtrics in 2018 for US$8-billion. Three years later, it listed the company publicly in the U.S. and securities filings show Silver Lake and its affiliates already own 4.1 per cent of Qualtrics’s shares, with less than 1 per cent of voting power.

CPPIB has $523-billion in assets that it manages for the Canada Pension Plan, the primary national retirement program for working Canadians, with about 21 million contributors and beneficiaries. Spokesperson Frank Switzer declined to comment on the transaction.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EOS sinks beneath the POC, but could the buyers force a reversal?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The volume profile tool showed EOS has lost a critical support level. The filled imbalance showed demand could reverse the recent retracement. EOS has performed well in the markets and maintained its upward trajectory […]
Source: CryptoAmb - 🏆 22. / 68 Read more »