SAP to Acquire Qualtrics, Sees Experience Management as the Future of Business
Powering The Experience Economy, Together.
SAP and Qualtrics International (Qualtrics) announced they have entered into a definitive agreement under which SAP SE intends to acquire Qualtrics, the global pioneer of the experience management (XM) software category that enables organizations to thrive in today’s experience economy. Qualtrics’ XM Platform collects feedback and data across the four vital areas of a business – customers, employees, product and brand – that are essential in a world where companies succeed or fail based on the experiences they deliver.
Under the terms of the agreement, SAP will acquire all outstanding shares of Qualtrics for US $8 billion in cash. SAP has secured financing in the amount of €7 billion to cover purchase price and acquisition-related costs. The purchase price includes unvested employee incentive compensation and cash on the balance sheet at close. Subject to customary closing conditions and attainment of regulatory clearances, the acquisition is expected to close in the first half of 2019. The Boards of Directors of SAP and Qualtrics have approved the transaction. Qualtrics’ shareholders have also approved the transaction.