SAP, a German business software group, announced on Sunday its acquisition of Qualtrics International Inc, a company focused on Experience Management, with an acquisition price of $8 billion and a cash acquisition.
SAP said in a statement that it would buy all the circulating shares of Seattle Qualtrics and that it had secured 7 billion euros ($7.9 billion) to complete the acquisition and pay the related costs.
Qualtrics is actually a survey software company, preparing for IPO, but being swallowed by SAP. The board and Qualtrics shareholders of both companies have already approved the takeover. Qualtrics competes with Survey Monkey, which went public in September. Compared with its rivals, Qualtrics is growing faster and more profitable. (Dirk)
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