Global Software Giant SAP Agreed to Acquire Qualtrics for $8 Billion
German-based international software giant SAP has reportedly agreed upon acquiring an experience management company called Qualtrics. The particular deal is an all-cash deal and has been amounted for $8 billion.
This acquisition has taken place just before the survey and research software company was set to go public. This deal is expected to be closed in the first half of 2019.
Prior to this acquisition, the company had raised $180 million at a $2.5 billion valuation. And this acquisition marks as the second-largest ever acquisition of a SaaS company, after Oracle’s purchase of Netsuite for $9.3 billion in 2016.
The software giant SAP claims that its software has touched 77 percent of the world’s transaction revenue, while Qualtrics’ products include survey software that enables ...