SAP snatched $ 8 billion from the US software company Qualtrics. The company is active in experience management and expects growth of over 40 percent.
The German software manufacturer SAP buys the US Qualtrics company for $ 8 billion. The committees of both companies and Qualtric shareholders had already approved the plan, the group said Sunday evening. A conclusion of the purchase is expected in the first half of 2019.
Growth over 40 percent
Qualtrics is one of the world's pioneers in the Experience Management (XM) software company, enabling companies to enjoy the ever-expanding business operations. Qualtrics expects revenue of over $ 400 million in 2018 and future growth over 40 percent, with the exception of potential synergies from joining SAP.
SAP acquires all shares issued by Qualtrics for $ 8 billion in cash. SAP has secured funding of a total of seven billion euros to cover purchase price and acquisition-related costs. (SDA)