Silver Lake and CPP Investments to acquire Qualtrics for $12.5 billion

Silver Lake and CPP Investments connected Monday announced plans to get Qualtrics for $12.5 billion, marking the 2nd clip the survey bundle institution has been bought successful little than 5 years.

Shares of Qualtrics were up much than 6% Monday.

The companies volition get 100% of Qualtrics' outstanding shares, according to a statement released Monday. This includes the bulk ownership involvement of SAP, which acquired Qualtrics for $8 cardinal successful 2018.

The all-cash woody has been approved by Qualtrics' committee of directors and a Qualtrics committee of autarkic directors, according to the statement. SAP besides approved the transaction successful its capableness arsenic Qualtrics' main shareholder. No different shareholder support is required.

Once the transaction is complete, Qualtrics volition go a privately held institution and its communal banal volition nary longer beryllium listed connected nationalist markets. Shareholders, including SAP, volition person $18.15 per stock successful currency nether the presumption of the agreement, according to the statement.

Morgan Stanley advised Qualtrics connected the deal, and Barclays acted arsenic the fiscal advisor to SAP. JPMorgan advised Silver Lake.

Qualtrics gets astir of its income from subscriptions and besides generates gross from a research-on-demand enactment that existing customers tin usage to get feedback from "a curated radical of respondents," and from nonrecreational services.

Qualtrics was founded successful 2002 by brothers Ryan and Jared Smith and their dad, Scott, on with Stuart Orgill. The institution is based successful Provo, Utah.

"I couldn't beryllium much excited for this measurement successful our journey," Ryan Smith, who serves arsenic the company's Executive Chairman, said successful the statement. "Silver Lake's content successful our imaginativeness and their astonishing way grounds of helping founders and absorption teams speaks for itself. We look guardant to moving unneurotic and driving category-defining maturation to physique the adjacent large endeavor unreality platform."