Monday, November 12, 2018
The largest software company in Germany wants to grow by taking over: SAP is attacking the smaller American competitor Qaltrics. For SAP, this is the largest acquisition since 2014. The Dax Group has $ 8 billion in hand.
SAP software maker acquires US company Qualtrics for eight billion dollars. Qualtrics collects feedback and data from customers, employees and products and brands to companies around the world that are tracked and evaluated immediately. The acquisition offers SAP an edge over its competitors, based on more recent data, said Bill McDermott, CEO of SAP. For SAP, it is the largest acquisition since the acquisition of Concur in 2014. Initially, Qualtrics wanted to make it public shortly. The step on the floor is so obsolete.
According to SAP data, Qualtrics expects sales of over $ 400 million in 2018 and growth rates of over 40%. This does not take into account possible synergies resulting from SAP affiliation. SAP purchases all shares issued by Qualtrics for eight billion dollars in cash, he said. To meet the acquisition, SAP has received a total of seven billion euros of funding to cover acquisition costs and procurement costs.
The Committees of both companies and Qualtrics shareholders have already approved the project, Walldorf explained. Consequently, it is expected that the acquisition will end in the first half of 2019.
Over 9,000 customers around the world
According to SAP, Qualtrics is one of the world's leading software companies, the so-called Experience Management (XM), with the help of which companies could be successful in the increasingly dynamic business world. However, the ad is that XM could offer companies more meaningful prospects in their own company in terms of customer, market and employee information. In Europe, Qualtrics claims to have more than 1,500 customers, over 9,000 worldwide.
Founded 16 years ago, the company has approximately 1,800 employees. Qualifier Ryan Smith, who holds about 40% of the company with his brother and father, will remain in office.