NEWS3 August 2020

SAP to launch Qualtrics IPO

New business News UK

UK – Business software firm SAP will take its experience management (XM) company Qualtrics public through an initial public offering (IPO).

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SAP intends to remain the majority owner of Qualtrics, and will launch the IPO in the US. The company has not confirmed when the IPO will open.

The company bought Qualtrics in 2018, four days before it was supposed to go public, and SAP currently owns 100% of the business’ shares.

SAP said it wanted the IPO to help Qualtrics increase its autonomy and customer base.

Ryan Smith, founder of Qualtrics, said: “When we launched the experience management category, our goal was always to help as many organisations as possible leverage the XM platform as a system of action.

“SAP is an incredible partner with unprecedented global reach, and we couldn’t be more excited about continuing the partnership. This will allow us to continue building out the XM ecosystem across a broad array of partners.”