SAP to Take Qualtrics Public Through IPO

SAP’s New CEO Makes U Turn on Biggest Purchase With Plan for IPOMore

SAP’s New CEO Makes U Turn on Biggest Purchase With Plan for IPOMore

The Company now owns 100% of Qualtrics shares and will retain majority ownership with no intention of spinning off or divesting its major stake.

Under the proposed initial public offering, Smith would become the largest individual shareholder in Qualtrics.

"SAP's primary objective for the IPO is to fortify Qualtrics' ability to capture its full market potential within Experience Management", SAP said in a statement issued on Sunday night, referring to the Qualtrics product.

At the same time, revenues from software licenses decreased 18 percent to 0.77 billion euros, a "strong sequential improvement compared with the first quarter", SAP noted.

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The Walldorf, Germany-based SAP bought Provo, Utah-based Qualtrics for about $8 billion after making its offer just days before its planned IPO in 2018.

Klein called the takeover a success on Sunday, highlighting the 40% sales growth achieved by Qualtrics previous year as it took advantage of SAP's global sales channels to reach new markets.

The move to list Qualtrics in the United States would partly unwind former CEO Executive Bill McDermott's last big takeover and rebalance SAP back towards its German roots under successor Christian Klein.

Qualtrics founder Ryan Smith said, "When we launched the Experience Management category, our goal was always to help as many organisations as possible leverage the XM Platform as a system of action".

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However, a final decision on the IPO, its conditions and timings are yet to be confirmed and is further subjected to market conditions, sources claimed. The transaction is not expected to have an impact on SAP's 2020 or longer-term financial targets.

Business software group SAP plans to spin off and float Qualtrics, the USA specialist in measuring online customer sentiment that it acquired less than two years ago for $8 billion (roughly Rs. 59,862 crores). "'We're excited to continue building out the XM [experience management] ecosystem while SAP remains our closest and most important innovation partner, '" Michal Lev-Ram writes for Fortune. At the same time, the founder and current management team of Qualtrics will continue to operate the company. 'This is called the experience gap'.

"'When you pay a premium, and you buy it for $8 billion, you want to create some synergies and create a differentiator and do some cross-selling, ' Oddo BHF analyst Nicolas David tells Bloomberg " s Sarah Syed in an interview published on Yahoo Finance.

SAP shares rose 3.5% to 140.40 euros in Frankfurt trading at 10:34 a.m.

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