SAP-controlled Qualtrics accepts $12.5 bln offer from Silver Lake, CPPIB (updated)

Qualtrics International

13/03/2023 06:26

(Adds details, background)
       March 13 (Reuters) - Qualtrics International Inc  XM.O 
said on Monday it will go private after the customer survey
software maker's controlling shareholder, SAP SE  SAPG.DE ,
accepted a $12.5 billion bid from an investor consortium led by
Silver Lake and Canada Pension Plan Investment Board (CPPIB).
    SAP agreed to the consortium's $18.15-per-share offer for
Qualtrics, saying it would get about $7.7 billion for its stake.
    The deal, this year's biggest buyout led by private equity
so far, comes after the German software giant decided that the
offer was the best it could secure, Reuters reported on Sunday.
    Qualtrics said earlier this month it would negotiate on an
exclusive basis with Silver Lake and CPPIB until March 15 to see
whether a deal could be finalized.
    Silver Lake Partners currently holds a 13.94% stake in
Qualtrics.
    In 2018, SAP bought Qualtrics for $8 billion and three years
later listed it in New York.

 (Reporting by Mrinmay Dey in Bengaluru; Editing by Savio
D'Souza)
 ((Mrinmay.Dey@thomsonreuters.com;))