A few days after going private for a second time, software giant Qualtrics International Inc. was already prepping for its next iteration.
With the experience-management company fully independent from SAP SAP for the first time, Qualtrics employees and management huddled to discuss further investments in engineering, including artificial intelligence. One key area of growth could pivot on technology from Clarabridge, a company Qualtrics acquired for $1.125 billion in 2021, according to a person familiar with Qualtrics’ business strategy who is not authorized to speak publicly on the matter.
Under the all-cash deal, Silver Lake and CPP Investments will pay $18.15 a share to buy Qualtrics. That buyout price marks a 73% premium to the group’s trading price before SAP announced in January plans to explore a sale of its stake in the company.Monday’s deal culminates a months-long negotiation in which SAP worked to divest its 71% stake in Qualtrics as part of a restructuring of the German software group.
Congratulations on the acquisition! Wishing you much success as you continue your journey as an independent company.