German software giant SAP sells US subsidiary Qualtrics

GPS News

German software giant SAP sells US subsidiary Qualtrics

German software giant SAP sells US subsidiary Qualtrics
by AFP Staff Writers
Frankfurt, Germany (AFP) March 13, 2023

German software giant SAP said Monday it has sold its American subsidiary Qualtrics to a consortium led by US and Canadian investment firms for $7.7 billion.

The sale of the subsidiary specialising in online market research software comes as SAP seeks to focus on its core cloud businesses, at a time the tech sector as a whole is facing turbulence.

The transaction is being carried out at a price of $18.15 per share. The German firm bought Qualtrics several years ago for eight billion dollars.

The Walldorf-based group floated the subsidiary on the stock market in 2021 but retained a majority stake.

The total value of the company is $12.5 billion, SAP said.

The buyers are Silver Lake, a US-based private equity firm specialising in technology investments, and CPP Investments, a major Canadian institutional investor managing pensions.

Despite the sale, CEO Christian Klein said SAP "intends to remain a close go-to-market and technology partner, servicing joint customers and continuing to contribute to Qualtrics' success".

As part of its restructuring, SAP also announced in January it planned to cut some 3,000 jobs this year.

Similar cuts have also been announced by tech giants including Meta, Amazon and Google.

fcz-sr/hmn/lth

SAP

GOOGLE

AMAZON.COM

Related Links
Space Technology News - Applications and Research

Subscribe Free To Our Daily Newsletters

RELATED CONTENT

The following news reports may link to other Space Media Network websites.

Globalstar introduces Realm Cloud Mobile Device Management Platform
Covington LA (SPX) Mar 13, 2023
Globalstar, Inc. (NYSE American: GSAT) has unveiled Realm Cloud, an agile mobile device and data management (MDM) platform designed to enable VARs and customers with all the capabilities required to solve speed-to-market needs for deploying and building customized asset tracking and telematics solutions while lowering the cost of ownership. Designed for an ever-evolving future, Realm Cloud offers easy-to-use device management capabilities, custom dashboards and API integrations with increased func ... read more

NASA engages US farmers to bring satellite data Down to Earth

Pincered at sea, lobsters get new hope on land in UK

US requests consultations with Mexico over anti-GMO policy

Global food system emissions imperil Paris climate goals

Brain cells inspire new computer components

Customizing catalysts for solid-state reactions

A step forward in the quest to replace silicon with 2D chips

Novel computer components inspired by brain cells

Emissions and contrail study with 100 percent sustainable aviation fuel

Sikorsky's hybrid-electric VTOL demo informs future missions

NASA virtual event showcases agency's efforts to transform aviation

A future aircraft design, supercomputed

Porsche backs synthetic option in EU fossil fuels row

VW joins e-car price war as global rivalry heats up

Germany angers EU after putting brakes on fossil fuel car ban

EU delays vote on fossil fuel car ban as Germany holds out

Art auctions hit record in 2022 despite economic gloom

EU chief wants 'level playing field' with China

Big Tech's job-slashing wave

China lifts sweeping visa curbs on foreigners

NASA to measure forest health from above

Brazil's new Indigenous affairs chief sets sights on illegal gold

'More important than rainforests': UK pioneers peat partnership

Using a data cube to monitor forest loss in the Amazon

Earth Map and users work together for an eco-friendly world

SOFIA Makes First Detection of Heavy Oxygen in Earth's Upper Atmosphere

Remote sensing scientist leads the way in tracking wild camels

China to launch LEO constellation of remote sensing satellites

Subscribe Free To Our Daily Newsletters

The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.