SAP announced its intent to take Qualtrics public in the United States

By Nikita Chaurasia  | Date: 2020-07-27

SAP announced its intent to take Qualtrics public in the United States

SAP SE, a German multinational software corporation, has reportedly announced to take Qualtrics, a developer of experience management (XM) solutions, public through an IPO in the United States. Sources state that SAP accounts for 100% shares and will remain as a major stakeholder in Qualtrics following the IPO.

For those uninitiated, Washington-based Qualtrics is a part of SAP’s cloud portfolio and has operated with greater autonomy as compared to the other acquired companies

As per credible sources, primary objective of SAP for the public offering is to strengthen Qualtrics’ ability to acquire its complete potential in Experience Management. This will further increase Qualtrics’ autonomy and will also promote its expansion within SAP’s customer base.

Sources with the knowledge of the matter state that SAP recognized the potential of Qualtrics and had acquired it just four days prior to going public in 2018. SAP is apparently committed to Qualtrics’s Experience Management platform and will remain as a key element to its intelligent enterprise strategy.

Qualtrics Founder Ryan Smith was reported saying that SAP is a favorable partner with unmatched global reach, and the company is thrilled to continue the partnership, which will allow for developing the XM ecosystem for a broader array of partners.

In this context, SAP CEO Christian Klein stated that an IPO would provide the greatest opportunity for Qualtrics to expand the Experience Management category in order to serve its customers, continue building the best talent, and explore its own acquisition strategy.

Christian further claimed that SAP will remain as Qualtrics’ most important market as well as research and development (R&D) partner while enabling the latter in greater freedom in its individual expansion.

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.

Source-

https://news.sap.com/2020/07/sap-announces-intent-qualtrics-ipo/

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Russia denies plans of blocking YouTube & cutting off from the internet

Russia denies plans of blocking YouTube & cutting off from the internet

By Nikita Chaurasia

The Digital Development Minister of Russia has reportedly stated that the country is not planning to block Google’s video streaming platform YouTube as such a move would affect its users and will therefore be avoided.  It is worth notin...

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Indian food delivery giant Swiggy to buy Dineout from Times Internet

By Nikita Chaurasia

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where it will c...

Grocery delivery platform Instacart files for U.S. stock market debut

Grocery delivery platform Instacart files for U.S. stock market debut

By Nikita Chaurasia

Instacart, a grocery delivery service, has announced that it has submitted a provisional registration statement with the Securities and Exchange Commission (SEC), clearing the way for the company to list its shares on the U.S. stock exchange. The ...

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

By Nikita Chaurasia

American food major Tyson Foods Inc. has reportedly improved its full-year sales outlook after witnessing better-than-expected earnings and revenue in the last quarter. The company raised its full-year sales to around USD 54 billion, above the averag...

EU likely to enforce new rules to regulate tech giants in spring 2023

EU likely to enforce new rules to regulate tech giants in spring 2023

By Nikita Chaurasia

The Executive Vice President of the European Commission Margrethe Vestager reportedly claimed that the union is likely to start enforcing the Digital Markets Act (DMA) in the spring of 2023. The antitrust legislation, which aims to limit the power of...