Silver Lake considers Qualtrics takeover (updated)

Qualtrics International

01/02/2023 16:47

(Add details, background)
       Feb 1 (Reuters) - Private equity firm Silver Lake
Management said on Wednesday that it was considering a takeover
of SAP-backed  SAPG.DE  customer-survey software maker Qualtrics
International Inc  XM.O . 
    Silver Lake, which currently owns 4.2% of Qualtrics, plans
to submit a proposal to buy the firm's remaining shares and
delist the stock, it said on a filing.
    Software maker SAP last week announced plans to cut 3,000
jobs, or 2.5% of its global workforce, and explore the sale of
its remaining 71% stake in Qualtrics.  urn:newsml:reuters.com:*:nL8N34B125
    It had bought the company in 2019 for $8 billion from
founder Ryan Smith.
    Shares in Provo, Utah-based Qualtrics jumped 4.8%, giving
the company a market capitalization of $9.4 billion. 
    Qualtrics and SAP did not immediately respond to Reuters
requests for comment.
 (Reporting by Tiyashi Datta in Bengaluru; Editing by Devika
Syamnath)
 ((tiyashi.datta@thomsonreuters.com;))