SAP and Qualtrics International (Qualtrics) have just announced a contract based on which SAP SE intends to acquire Qualtrics, thanks to which both companies will be able to develop in today's economy of experience.
Under the terms of the agreement, SAP will acquire all outstanding Qualtrics shares for $ 8,000 million. SAP provided funding of $ 7 billion to cover the purchase price and acquisition costs. According to the Computerworld.es portal, the purchase price includes compensation for incentives for employees who have not been collected, and funds from the final balance. Subject to the usual conditions of closure and compliance with regulatory approvals, the acquisition is to be finalized in the first half of 2019. The management boards of SAP and Qualtrics have already approved the transaction, as have the shareholders of Qualtrics. They approved the transaction.
The combination of Qualtrics and SAP can be extended to customer relationship management (CRM) software, a category in which Salesforce has a significant presence and where other companies, such as Microsoft, are trying to get the ground. On the other hand, this contract could cause problems with SurveyMonkey, a competitor of Qualtrics, which went public in September.
The Qualtrics XM platform collects comments and data in four key areas of the company: customers, employees, products and brands that are essential in a world where companies are successful or failing based on the experience they offer.
This is one of the largest SAP acquisitions in recent years, as in the case of Concur in 2014. However, despite its size, we have to be careful with the risk of losing a high start in the largest global international companies in technology or fail to move the needle as expected . such a price, said the above-mentioned Spanish media.
In a recent interview for Forbes magazine, Qualtrics CEO, Ryan Smith and SAP CEO Bill McDermott, said they had been in touch in recent weeks. They both already shared with each other, such as Under Armor, and according to Smith, possible synergies between the company (Qualtrics, focused on data from experience, SAP on operational data) favored contract terms so that joint work was an easy prospect.