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Qualtrics has $12B offer on the table to go private


Qualtrics was once a hot startup before SAP bought the company in 2018 for $8 billion. It was a fine exit, making the founders rich, but it never was really a good fit. SAP spun out the company just two years later, before taking it public in 2021.
Today the company filed an 8-K form with the SEC indicating it has an offer to go private again in a $12.4 billion deal with Silver Lake and the Canadian Pension fund that values the company stock at $18.15 per share.
That’s a long, strange trip. This time, SAP, which owns 71% of the company, would recoup its initial investment, but not much more (although it did probably gain some additional money when the company went public).
“Our exclusivity agreement with Silver Lake is a next step in the process announced by SAP on January 26th. As the process continues to play out, we’re committed to achieving the best outcome for our company and our shareholders, as we maintain our focus on delivering for our customers around the world,” the company said in a statement.
Translated, that means the p …

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