SAP plans to take its Qualtrics subsidiary public in the United States. The German software company said recently it will maintain its majority ownership in Qualtrics.

SAP purchased Qualtrics in 2019 four days before it was to go public. Qualtrics markets Experience Management services which measure all interactions people have with a company. SAP said the IPO will “increase Qualtrics’ autonomy and enable it to expand its footprint both within SAP’s customer base and beyond.” Qualtrics had about revenue of about $198.3 million for the second quarter ended June 30, an increase of 34 percent from last year’s corresponding period. SAP CEO Christian Klein said SAP will remain Qualtrics’ largest and most important go-to-market and research and development partner. Qualtrics, Klein said, will have greater independence to broad its base by partnering and building out its ecosystem. Qualtrics has had greater independence than other SAP companies and its founder and management team will continue to operate the organization. A final decision on the IPO, its conditions and timing are subject to market conditions.

Last modified on Thursday, 30 July 2020
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