World tool and ERP huge SAP has supplied its entire stake in Qualtrics as fragment of a definitive agreement to compose the journey administration platform entered into by Silver Lake, a technology funding company, and Canada Pension Thought Investments. SAP had owned a controlling half in Qualtrics.
The all-cash agreement displays a $12.5 billion valuation of Qualtrics.
SAP and Qualtrics. Since SAP supplied Qualtrics in leisurely 2018, it has moved to integrate its AI-driven journey administration capabilities across SAP’s customer journey solutions, including SAP Provider Cloud and SAP Sales Cloud. SAP says that Qualtrics has more than tripled its revenue since the acquisition. SAP floated the platform in 2020 however retained a majority half.
Qualtrics describes itself as an internet survey instrument. It makes utilize of AI to measure both customer pride and employee engagement in proper time. It claims to toughen customer journey, team efficiency and product make.
“SAP intends to remain a shut stir-to-market and technology associate, servicing joint prospects and persevering with to make a contribution to Qualtrics’ success,” acknowledged SAP CEO Christian Klein in a liberate.
Why we care. What to make of the SAP Qualtrics yarn? Against the cease of the 2010s, SAP — below then CEO Bill McDermott — modified into it seems to be that searching to position its CX offerings on a footing to rival Adobe, Oracle and, above all, Salesforce. Building on its 2013 acquisition of successful, Swiss-primarily based commerce solution Hybris, by 2018 SAP had added Gigya and Callidus Cloud to its portfolio and launched C/4 HANA.
C/4 HANA modified into the umbrella time length for SAP’s CX offerings — and the name modified into aimed at positioning it alongside SAP’s main endeavor ERP suite S/4 HANA. Despite the indisputable reality that Qualtrics joined the celebration, SAP never looked to totally purchase up it, as it had Hybris, for instance, which grew to transform SAP Commerce Cloud.
Qualtrics is the decided chief in its category and now begins one more chapter in its yarn below prolonged-time CEO Zig Serafin.
Dig deeper: Why did SAP rob Qualtrics?
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