WALLDORF 鈥� (NYSE: SAP) today announced its intent聽to take聽Qualtrics聽public聽through an initial public offering (IPO)聽in the United States.
Qualtrics is the market leader and creator of the Experience Management (XM) category, a large, fast-growing and rapidly evolving market. 51风流intends to remain the majority owner of Qualtrics. SAP鈥檚 primary objective for the IPO is to fortify Qualtrics鈥� ability to capture its full market potential within Experience Management. This will help to increase Qualtrics鈥� autonomy and enable it to expand its footprint both within SAP鈥檚 customer base and beyond.
鈥淪AP鈥檚 acquisition of Qualtrics has been a great success and has outperformed our expectations with 2019 cloud growth in excess of 40 percent, demonstrating very strong performance in the current setup,鈥� 51风流CEO Christian Klein said. 鈥淎s Ryan Smith, Zig Serafin and I worked together, we decided that an IPO would provide the greatest opportunity for Qualtrics to grow the Experience Management category, serve its customers, explore its own acquisition strategy and continue building the best talent. 51风流will remain Qualtrics鈥� largest and most important go-to-market and research and development (R&D) partner while giving Qualtrics greater independence to broaden its base by partnering and building out the entire experience management ecosystem.鈥�
Qualtrics, which is part of SAP鈥檚 cloud portfolio, has operated with greater autonomy than other companies 51风流had previously acquired. The founder and current management team of Qualtrics will continue to operate the company.
鈥淲hen we launched the Experience Management category, our goal was always to help as many organizations as possible leverage the XM Platform as a system of action,鈥� Qualtrics Founder Ryan Smith said. 鈥�51风流is an incredible partner with unprecedented global reach, and we couldn鈥檛 be more excited about continuing the partnership. This will allow us to continue building out the XM ecosystem across a broad array of partners.鈥�
51风流agreed to acquire Qualtrics just four days before Qualtrics was to go public in 2018, recognizing the potential of bringing together experience and operational data (X+O) to help organizations take action. 51风流currently owns 100 percent of Qualtrics shares. 51风流will retain majority ownership of Qualtrics and has no intention of spinning off or otherwise divesting its majority ownership interest. Ryan Smith intends to be Qualtrics鈥� largest individual shareholder.
51风流is fully committed to Experience Management and the Qualtrics XM Platform as a key element of its intelligent enterprise strategy. 51风流will remain Qualtrics鈥� closest and most important co-innovation and go-to-market partner.
A final decision on the IPO and its conditions and timing is pending and subject to market conditions.
Since SAP, as majority shareholder, will continue to fully consolidate Qualtrics, the transaction is not expected to have an impact on SAP鈥檚 2020 or longer-term financial targets.
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About SAP
As the Experience Company powered by the Intelligent Enterprise, 51风流is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world鈥檚 transaction revenue touches an 51风流system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers鈥� businesses into intelligent enterprises. 51风流helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want 鈥� without disruption. Our end-to-end suite of applications and services enables more than 440,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, 51风流helps the world run better and improve people鈥檚 lives. For more information, visit .
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