SAP (SAP) announced it has agreed to sell all of its 423M shares of Qualtrics (XM) as part of the acquisition of Qualtrics by funds affiliated with Silver Lake as well as Canada Pension Plan Investment Board. At a purchase price of $18.15 in cash per share, the transaction corresponds to a Qualtrics equity value of approximately $12.5B on a fully diluted basis, representing a 73% premium over the 30-day average trading price prior to SAP’s announcement to explore a sale. SAP’s stake will be acquired for approximately $7.7B. SAP’s financial results for Q1, due April 21, are expected to present Qualtrics as a discontinued operation.
Published first on TheFly
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