article
  • article
  • product
搜索
NEWSCENTER
详细内容

SAP plans to list its subsidiary Qualtrics through a US IPO

NetEase Technology News, July 27, according to foreign media reports, SAP SE, the largest European technology company and German software provider, will sell some shares of its online survey and cloud service software subsidiary Qualtrics through a public offering in the US market. In order to compete with its peer Salesforce, SAP SE spent $8 billion to acquire Qualtrics less than two years ago.


SAP said in a statement on Sunday local time that SAP will retain a majority stake in Qualtrics and at the same time give the company greater business autonomy under the leadership of Qualtrics, including founder Ryan Smith and other existing company executives. right. After listing in the United States, Smith will become Qualtrics' largest individual shareholder. He and his brother Jared founded Qualtrics in the basement of their parents' home in Utah.

                          3.jpg

This decision marks a huge change in SAP's decision to acquire Qualtrics for USD 8 billion in November 2018. At that time, investors reacted coldly to the company's acquisition of Qualtrics, believing that the purchase price was too high. The Qualtrics acquisition is also the pinnacle of a $26 billion acquisition by former SAP CEO Bill McDermott, which also helped software giant SAP enter the fast-growing field of cloud computing software and services . The new CEO, Christian Klein, must compete with younger companies such as Salesforce and Workday, while also managing the shrinking traditional software business.


McDermott defended the transaction and believed that combining SAP's employee and operational data with Qualtrics' customer experience feedback would accelerate SAP's business. The company currently has more than 11,500 customers and achieved revenues of 508 million euros (approximately US$9.1 billion) in the most recent fiscal year.


SAP said that it will determine when Qualtrics will go public in the United States based on market conditions. As a major shareholder, the German company plans to continue to fully integrate Qualtrics' business and said it will not affect its 2020 performance expectations.


SAP said earlier this month that although software licensing revenue in the second quarter was lower than normal, it was boosted by the recovery of software transactions in Asia, and the quarter’s performance recovery exceeded expectations. The company will announce its full second quarter financial report this Monday. (Chenchen)



Source: NetEase Technology Report, translated by Google Translate

  • 电话直呼

    • 008615618857188
    • 008615618857188
    • manager :
    • manager :
技术支持: 机器人行业建站 | 管理登录