2023-03-13 05:21:51 ET
- In wake of a robust process that was initiated on Jan.26, SAP ( NYSE: SAP ) has agreed to sell all of its 423 million shares of Qualtrics International Inc. as part of the acquisition of Qualtrics by funds affiliated with Silver Lake as well as Canada Pension Plan Investment Board for a purchase price of $18.15 in cash per share.
- The deal corresponds to a Qualtrics equity value of ~$12.5B on a fully diluted basis, representing a 73% premium over the 30-day average trading price prior to SAP's announcement to explore a sale (approx. 62% premium relative to the unaffected closing price on January 25, 2023).
- SAP's stake will be acquired for ~$7.7 billion.
- The deal is subject to customary regulatory clearances and expected to close in the second half of 2023.
- Further, SAP's financial results for the first quarter, due April 21, are expected to present Qualtrics as a discontinued operation.
For further details see:
SAP agrees to sell 423M shares of Qualtrics for $7.7B