Silver Lake and CPP Investments Acquires Qualtrics for $12.5 Billion

On Monday, March 13, Silver Lake and Canada Pension Plan (CPP) Investment Board announced to acquire Qualtrics (ticker: XM) for $12.5 billion, which is the second time the experience management company has been acquired in the last five years.

The two companies will acquire 100 percent of Qualtrics' outstanding shares Silver Lake does not currently own. According to CNBC, the acquisition also includes "the majority ownership interest of SAP, which acquired Qualtrics for $8 billion in 2018." When the transaction is complete, Chief Executive Officer Zig Serafin will continue to steer the company and Qualtrics' common stock will no longer be listed on public markets. Shareholders will receive $18.15 per share in cash under the terms of agreement.

Qualtrics was founded in 2002 by brothers Ryan and Jared Smith and their father, Scott Smith, as well as Stuart Orgill. The company is located in Provo, Utah.

For more information, please follow the links below:

You've successfully subscribed to Silicon Slopes Newsroom
Great! Next, complete checkout to get full access to all premium content.
Error! Could not sign up. invalid link.
Welcome back! You've successfully signed in.
Error! Could not sign in. Please try again.
Success! Your account is fully activated, you now have access to all content.
Error! Stripe checkout failed.
Success! Your billing info is updated.
Error! Billing info update failed.