Tech

Qualtrics: SAP wants to partially get rid of the 8 billion takeover

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SAP wants to bring the US company Qualtrics to the stock exchange, thereby buying one and a half years ago partially undo. SAP only acquired the market analysis startup in November 2018 for $ 8 billion. The then SAP boss Bill McDermott had been criticized by investors for the high purchase price.

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The Qualtrics acquisition was the second largest acquisition of SAP after buying Concur Technologies for $ 8.3 billion in 2014. SAP announced Monday night knownTo want to remain majority shareholder of Qualtrics. There is no intention to outsource or sell the majority stake. The conditions and the schedule for the IPO are still pending and are dependent on the market environment. The new SAP boss Christian Klein wants to clear the way for further acquisitions of both companies through the partial sale on the stock exchange.

SAP: Qualtrics founder wants to buy a lot of shares

Qualtrics co-founder and chief executive Ryan Smith plans to become Qualtrics’ largest single shareholder, according to SAP. Smith is from Utah and is like many people there Mormons. He is married and has five children. Qualtrics itself was about to go public before the purchase. The company expected a valuation of well over $ 5 billion.

Europe’s largest software manufacturer SAP made significantly more profit in the second quarter. Net profit grew 52 percent year over year to EUR 885 million. A year ago, the result was burdened with almost 200 million euros by a job reduction program.

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