According to VentureBeat, SAP has applied for the IPO of its subsidiary Qualtrics. This IPO filing includes an indicative price range of between $ 20 and $ 24 per share. By separating some of Qualtrics’ capital, SAP makes it a semi-independent subsidiary. A decision that the German company, which specializes in software, in particular Business Intelligence, which nevertheless remains the majority shareholder, has not yet explained.
“Building on the success we have achieved with SAP, we aim to continue to count Qualtrics as one of the largest and most valued software companies in the world. The IPO will give us the speed, flexibility and autonomy to continue building our leadership position in the XM category, ”says Qualtrics.
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This isn’t the first time Qualtrics has hit the market. In 2018, when it was about to go public, SAP bought it for 8 billion euros. The operation bore fruit, with Qualtrics announcing sales of $ 723 million in 2020, 36% growth over 2019.
Qualtrics is developing Experience Management (XM) software that can be used to conduct surveys on professional subjects to improve marketing and communication campaigns. The company now has 12,000 customers and 3,300 employees.