SAP SE undefined announced Sunday it plans to take its Qualtrics cloud-software business public through an initial public offering. SAP bought Qualtrics...
SAP SE SAP, -1.64% announced Sunday it plans to take its Qualtrics cloud-software business public through an initial public offering. SAP bought Qualtrics ahead of its planned IPO in 2018 for around $8 billion.
"SAP's acquisition of Qualtrics has been a great success and has outperformed our expectations with 2019 cloud growth in excess of 40%, demonstrating very strong performance in the current setup," SAP CEO Christian Klein said in a statement Sunday."We decided that an IPO would provide the greatest opportunity for Qualtrics to grow." SAP said it will continue to hold majority ownership of Qualtrics, and Qualtrics founder Ryan Smith will remain its largest shareholder.
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