sapshutterstockkk 322333

SAP is selling one of its companies

German SAP bought Qualtrics in 2019. Since then, the company’s revenue has more than tripled, and the number of its users has increased from 10,000 to 18,000. SAP’s stake goes to investment funds linked to Silver Lake and the Canada Pension Plan Investment Board.

The transaction, carried out at a price of $18.15 per share, corresponds to a company value of $12.5 billion and represents a 73 percent premium compared to the average of the 30 days prior to the announcement of SAP’s intention to sell (compared to the closing price on January 25, before the announcement, the premium is approximately 62 percent).

“SAP plans to remain in close partnership with Qualtrics in terms of market access and technology, serving customers together,” added Pintér Szabolcs, CEO of SAP Hungary, to MTI.

The transaction still requires obtaining the usual supervisory approvals, they wrote.

Cover image: Shutterstock