The German software manufacturer SAP buys the US company Qualtrics for eight billion dollars (about seven billion euros). The committees of both companies and the Qualtrics shareholders had already approved the project, the Walldorf-based company said yesterday evening. A conclusion of the purchase is expected in the first half of 2019.
Qualtrics is one of the world’s pioneers in the Experience Management (XM) software industry, which focuses on building positive customer experiences to build an emotional bond between the user and the product or vendor.
Qualtrics expects sales of over $ 400 million in 2018 and future growth rates in excess of 40 percent, excluding potential synergies from affiliation with SAP.
SAP acquires all of the shares issued by Qualtrics for $ 8 billion in cash. SAP has secured financing totaling seven billion euros to cover the purchase price and the acquisition-related costs.