SAP shares fall on $8 billion Qualtrics takeover announcement

SAP shares fall on $8 billion Qualtrics takeover announcement

Shares of SAP fell on Monday after the corporate introduced it was shopping for U.S. survey software program maker Qualtrics for $eight billion.

The German software program large mentioned Sunday it will purchase Qualtrics in an all-cash deal that has already gained approval by the boards of each firms, in addition to Qualtrics’ shareholders.

SAP’s share worth initially fell round 2 p.c as merchants in Europe digested information of the deal on Monday, quickly extending losses with a four p.c lower later in morning commerce. As of 12:26 p.m. London time, SAP shares traded three.65 p.c decrease.

The deal introduced Sunday noticed SAP snap up Qualtrics — which counts recently-listed SurveyMonkey amongst its rivals — forward of a deliberate itemizing for the agency, which might have traded on the Nasdaq below the image XM.

It is usually one of many largest acquisitions the enterprise software program maker has ever made, coming second solely to SAP’s $eight.three billion buy of journey and expense software program agency Concur in 2014.

As well as, the deal comes on the again of a large number of takeovers by massive tech firms of coveted cloud software program corporations. IBM not too long ago introduced plans to purchase Purple Hat for $34 billion, the trade’s largest ever acquisition, and Microsoft earlier this yr purchased GitHub for $7.5 billion.

Qualtrics was based in 2002 by brothers Ryan and Jared Smith, their father, Scott, and Stuart Orgill. It counts well-known manufacturers together with Microsoft, Kellogg, BlackRock, Mastercard and Below Armour amongst its greater than 9,000 clients.

Be the first to comment on "SAP shares fall on $8 billion Qualtrics takeover announcement"

Leave a comment

Your email address will not be published.


*