SAP takes survey software company Qualtrics for € 7.1 billion

Nov

12

2018

The German software company SAP acquires American Qualtrics for 8 billion dollars, about 7.1 billion euros. The acquisition follows a few weeks after the announcement of Qualtrics that it would go on the stock exchange.

Qualtrics is a provider of services and software for surveys, for companies and researchers, among others. It is a competitor of SurveyMonkey, which recently went to the fair. The company has nine thousand customers. According to SAP , Qualtrics can grow rapidly after the acquisition.

Last year Qualtrics achieved sales of 290 million dollars, 52 percent higher than a year earlier. The expectation is that the company will achieve more than $ 400 million in revenue this year, a growth of more than 40 percent. The German SAP is a much larger software company, which achieved a turnover of 23.5 billion euros in 2017.

SAP thinks the acquisition can be completed in the first half of 2019. Both companies and their shareholders agree on the conditions; regulatory authorities still need to give approval.

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