Silver Lake And Partner To Takeover Qualtrics At 62% Premium; To Cease Trading Post Deal

Author: Anusuya Lahiri | March 13, 2023 08:12am

• Silver Lake, in partnership with Canada Pension Plan Investment Board, agreed to acquire Qualtrics International Inc (NASDAQ:XM) for $12.5 billion.
• Qualtrics shareholders, including SAP SE (NYSE:SAP), will receive $18.15 per share in cash, implying a 62% premium to the January 25, 2023 closing price, the last full trading day before SAP's announcement to explore a sale of its stake in Qualtrics.
• Silver Lake and its co-investors and CPP Investments will acquire 100% of the outstanding shares Silver Lake does not already own, including the entirety of SAP's majority ownership interest. 
• Qualtrics's common stock will cease to list on any public market upon the transaction. Qualtrics will become an independent, privately held company. 
• Also Read: Qualtrics Could Bag A Higher Takeover Premium, Analyst Says Post Offer From Silver Lake & Canada Pension Plan
• Qualtrics will continue to be led by CEO Zig Serafin, and the company will remain headquartered in Provo, Utah, and Seattle, Washington.
• The transaction is fully financed by equity commitments from Silver Lake and co-investors, with $1.75 billion in equity from CPP Investments and $1 billion in debt.
•  The transaction will likely close in the second half of 2023.
• Price Action: XM shares are up 6.53% at $17.63 premarket on the last check Monday.

Posted In: SAP XM