SAP SE (NYSE: SAP) acquired Qualtrics International Inc., a Provo, Utah- and Seattle, Wash.—based provider of experience management (XM) software, for US$8 billion.
The deal will enable the combination of Qualtrics’ experience data and insights with SAP’s operational data to allow customers to manage supply chains, networks, employees and core processes.
Led by Ryan Smith, CEO, Qualtrics provides a tech platform for organizations to collect, manage, and act on experience data, also called X-data™. The Qualtrics XM Platform™ is a system of action, used by teams, departments, and entire organizations to manage the four core experiences of business—customer, product, employee and brand—on one place. Over 9,000 enterprises worldwide, including more than 75 percent of the Fortune 100 and 99 of the top 100 U.S. business schools, use the company’s platform to build products, create loyal customers, develop an employee culture, and build brands.
Qualtrics expects full-year 2018 revenue to exceed US$400m and projects a forward growth rate of greater than 40 percent, not including potential synergies of being part of SAP. Leveraging SAP’s more than 413,000 customers and global salesforce of around 15,000, the company will be able to scale rapidly around the world.
Following the closing of the transaction, Qualtrics is expected to maintain its leadership, personnel, branding and culture, operating as an entity within SAP’s Cloud Business Group. Ryan Smith will continue to lead Qualtrics, and Qualtrics is expected to continue to maintain dual headquarters in Provo, Utah, and Seattle, Washington.
FinSMEs
12/11/2018